Kainos sees 'strong start' to trading year
Kainos Group
946.00p
11:29 23/04/24
Kainos reported a "strong start" to its current trading year on Wednesday, as momentum seen in the second half of last year continued.
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The AIM-listed firm now expects results for the year ended 31 March to be ahead of market expectations thanks to the very strong growth seen in its digital services wing, driven by both its Digital Transformation and Workday units.
In Digital Transformation, Kainos delivered a number of "significant ongoing engagements" for commercial clients and the UK government's digital transformation programme.
Kainos' Workday unit benefitted from growth in Post Deployment Services and an increased book of business in continental Europe following geographic expansion.
Kainos Smart also continued its "strong growth trajectory", although the firm acknowledged that its performance was partially offset by Evolve - where market conditions remained challenging due to a lack of available funding.
As of 1040 BST, Kainos shares had jumped 11.23% to 406p.