Kainos more than doubles annual profit in bumper year
IT provider Kainos has more than doubled its annual pre-tax profit to secure an eleventh consecutive year of growth.
The group’s pre-tax profit surged by 124 per cent to £57.1m in the year ended 31 March, reflecting strong sector demand throughout the pandemic.
Revenue also grew by 31 per cent to £234.7m at the FTSE 250 firm, while bookings rose six percent to £258.8m.
Kainos pushed up its active customers to 546 during the year, while its staff count was up by 309 to 2,024.
Brendan Mooney, CEO of Kainos, said that hitting more than 500 customers and 2,000 employees marked “significant milestones” in the company’s journey.
“Since 2010 we have been helping our customers drive digital transformation. That trend has continued through the pandemic and we have once again delivered a strong business performance.
“We have maintained our high levels of customer satisfaction and employee engagement – at the same time delivering record levels of sales, revenue, adjusted pre-tax profit and cash.”
Following the full year update, shares in Kainos rose 2.6 per cent as markets opened.