Kainos reported full-year revenue growth that exceeded expectations, sending its shares 1.3% higher following the London market open.
Revenue grew 17% to £431.1 million, ahead of the consensus estimate that had been revised up to 15% growth. Adjusted profit before tax rose 2% to £67.1 million, edging past the £65.2 million consensus, though the adjusted margin narrowed to 16% from 18%.
Stifel analyst Peter McNally commented: "Total revenue indicates that the company had H2 revenue growth of 28%, a strong six months indeed."
Digital Services revenue grew 20% organically, while Workday Services posted second-half growth of 2% year-on-year. Product annual recurring revenue rose 23% to £89.0 million, with the customer count reaching 30, up from 25.
Bookings jumped 32% and the order backlog grew 18%.
