Kainos announces FY19 half-year results
Date posted
26 November 2018
Reading time
6 Minutes
Kainos announces FY19 half-year results
Kainos Group plc (LSE: KNOS), a leading UK-based provider of IT, consulting and software solutions announces its results for the six months ended 30 September 2018.
Highlights
- Performance in line with upgraded market expectations, with on-going momentum.
- Revenue growth of 62% to £67.2 million (H1 2018: £41.4 million).
- Adjusted pre-tax profit increased 42% to £10.1m (H1 2018: £7.1 million).
- Sales orders up 42% to £90.2 million (H1 2018: £63.4m million).
- Contracted backlog growth of 29% to £125.6 million (H1 2018: £97.1 million).
- Revenue diversification continues, across a series of sectors.
- Commercial revenues up 30% to £17.6 million (H1 2018: £13.6 million).
- International revenues up 28% to £12.8 million (H1 2018: £10.0 million).
- Healthcare revenues up 67% to £11.0 million (H1 2018: £6.6 million).
- SaaS and software-related revenues up 13% to £9.9 million (H1 2018: £8.7 million).
- Very strong growth in Digital Services driven by new and existing customer demand.
- Revenue growth of 75% to £57.3 million (H1 2018: £32.7 million).
- Significant on-going engagements in UK government's digital transformation programme.
- Further strengthening of position within Europe as leading boutique Workday partner, with 33 new deals signed (H1 2018: 16); building presence in North America.
- Digital Platforms showing progress against key milestones.
- Revenue growth of 13% to £9.9 million (H1 2018: £8.7 million).
- 139 customers on Kainos Smart (H1 2018: 103).
- Research and development expenditure of £2.2 million expensed (H1 2018: £2.6 million).
- A total of 1,324 people in Kainos (H1 2018: 1,019) up 30%, with on-going recruitment activity.
- Customer approval of Group services rated as 'good' or better by 90% of customers.
- Highly cash generative, strong underlying cash conversion and period-end cash of £38.8 million.