Trading Update

RNS Number : 2464C

Kainos Group plc

12 April 2017

 

12 April 2017

Kainos Group plc

("Kainos" or "the Company")

Trading Update

Kainos Group plc, a leading provider of Digital Services and Platforms, today issues a trading update for the year ended 31 March 2017. 

Trading in the year ended 31 March 2017 has continued to be in line with market expectations; the Company has experienced good growth across all divisions, and remains well positioned in its core markets.

The increasing trends towards digitisation and adoption of enterprise Software as a Service (SaaS) solutions have continued to generate strong demand for the Company's Digital Services in both public and commercial markets in the UK and Europe.   

Growth in Digital Platforms remains solid, supported by sustained momentum of Kainos WorkSmart contract wins, although limited funding in the UK's NHS continues to moderate short term growth of Kainos Evolve platforms.  The Company continues to invest in development, sales and marketing of its Evolve Integrated Care platform. 

Kainos has a robust balance sheet with no debt and strong cash generation.  The business has a solid pipeline, which includes a growing level of recurring revenue.  Recruitment remains strong, with over 216 people joining Kainos since 1 April 2016, bringing the total number of employees and contractors worldwide to 975 at the end of March 2017.

The announcement of Kainos results for the year ended 31 March 2017 will be made on Tuesday 30 May 2017.

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For further information, please contact:

Kainos                                                                                                  via FTI Consulting LLP

Brendan Mooney, Chief Executive Officer

Richard McCann, Chief Financial Officer

Brian Gannon, SVP Corporate Development

Investec Bank plc                                                                             [phone]

Patrick Robb / Dominic Emery

Canaccord Genuity                                                                         [phone]

Simon Bridges / Emma Gabriel

FTI Consulting LLP                                                                           [phone]

Matt Dixon / Nicola Krafft

About Kainos

Kainos Group plc is a UK-based provider of Digital Services and Digital Platforms.  

The Group's Digital Services include full lifecycle development and support of customised Digital Services for government and commercial customers. Kainos is also the largest boutique partner for Workday Inc. ('Workday') in Europe, responsible for implementing Workday's innovative Software-as-a-Service (SaaS) platform for enterprise customers.

The Group's Digital Platforms comprise specialised digital products in the mobile healthcare and automated testing arenas. Evolve Electronic Medical Records ('EMR') is the market leading product for the digitisation of patient notes in the Acute sector of the NHS; Evolve Integrated Care ('IC') is a SaaS-based integrated care platform for the NHS and international healthcare providers; and Smart is an automated testing platform for Workday customers.

Kainos employs approximately 1,000 staff and contractors across eight offices in Europe and the USA, working interchangeably across its Services and Platforms businesses.

Kainos is listed on the London Stock Exchange (KNOS). For further information, please visit www.kainos.com.

 

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