Kainos revenue jumps 29%, marking 12th consecutive year of growth

Pretax profit rose 3 per cent to £58.8 million, software company based in North says

Turnover at Northern Ireland software company Kainos rose by 29 per cent to £302.6 million (€358.6 million) in the 12 months to the end of March, marking the group's 12th consecutive year of growth.

Kainos, which provides digital technology services and platforms to customers that include the National Health Service (NHS), was established in 1986 as a spin-out company from Queen's University Belfast.

The company said pretax profit rose 3 per cent to £58.8 million as margins moderated following increased investment “and the further normalisation of costs”.

Bookings were up 35 per cent to £349.8 million while there was contracted backlog growth of 26 per cent to £259.7 million.

Following dividend payments and acquisition expenses, period-end cash amounted to £76.6 million.

Kainos said it now employed 2,692 staff based across 22 countries, reflecting a strong recruitment drive in our core markets.

"Our latest business results outline the consistency of our long-term performance, as we recorded our 12th consecutive year of growth – in terms of people, customers, revenue and profitability," chief executive Brendan Mooney said.

“Over those 12 years we have helped organisations drive their digital transformation programmes and realise their ambitions. That digitalisation trend gathered further pace during the pandemic as our customers responded to the changing ways of delivering essential services to citizens, patients, customers and employees,” he said.

“That sustained demand, and the trust that our customers have placed in Kainos, has allowed our business to thrive and this year we continued to pass significant milestones. We now have over 2,600 colleagues and over 700 customers, whilst our revenues have exceeded £300 million,” he added.