Kainos posts stellar full-year results
Kainos Group PLC (LON:KNOS) said it continues to plan its expansion after posting stellar full-year results, as organisations stepped up their digital efforts during the pandemic.
The FTSE 250 software provider said its early-stage investments are already contributing significant additional revenue streams, while its international expansion is increasing market size, both in the Workday Practice and Digital Services divisions.
The Workday Practice segment is expected to continue gaining market share as it is forecast to reach US$10bn revenue in the next five years, from around US$4bn today.
Its main competitors are Oracle and SAP, which have been in the enterprise resource planning (ERP) market for 50 years.
Kainos provides software for Workday Inc’s Finance, HR and Planning divisions.
The Digital Services segment, mostly focused on the UK, is now expanding in Canada, Germany and Switzerland.
Kainos said it remains positive about the future of digitisation in the UK public sector and within the NHS where it would maintain “a central role”.
In the year to 31 March, revenue climbed 31% to £234mln, with statutory profit before tax rocketing 117% to £50mln. Cash at year-end was £80mln and the group proposed a total dividend of 28.2p, up 706% compared to last year.