Tech Market View - Kainos reports record revenue & profit growth

Erstwhile 'Little British Battler' Kainos has confirmed its record revenue and profit growth in the year to end of March '13. The application development and management specialist reports a 17% increase in turnover to £29.7 million that's up from £25.4 million in FY12 and £17 million in FY11 - and a 75% improvement in profits to £3.5 million (FY12: £2.0 million). It's also paying its maiden dividend after just 26 years in business! As presaged in our recent CompanyViews report on Kainos, the growth has been spurred by its work with the UK public sector, its partnership with global SaaS player Workday, and the success of its electronic medical record product Evolve in the UK NHS. Central government has proven a particularly rich hunting ground for Kainos since it began working with the Government Digital Service in March 2012. It has benefited from the Government's pro-SME stance winning 10 projects in central government helping to deliver the 'Digital by Default' agenda. As a result, the public sector accounts for around £6.5 million of Kainos' FY13 turnover, up from £5.3 million the year before. Read the full article on TechMarketView.