Kainos upbeat on opportunities as revenues rise by a third

Revenues rose by a third to £142.3 million (€ 166.7 million) for Northern Irish software company Kainos during the first six months of the year.

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 on Monday that pre-tax profits rose by 3 per cent to £24.8 million in the first half. Bookings were up 81 per cent to £187.4 million with software-as-a-service (SaaS) bookings up 118 per cent to £31 million.

Kainos said its digital services division reported revenue growth of 32 per cent to £94.2 million. Its Workday practice saw turnover jump 35 per cent to £48.1 million.

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International revenues rose 45 per cent to £39.9 million, while SaaS and software-related sales increased 36 per cent to £21.1 million.

A breakdown of turnover reveals 42 per cent derives from commercial clients, 37 per cent from the public sector and 21 per cent via healthcare customers.

Staff numbers rose by 41 per cent during the six month period to 2,438, the company said.

“While the economy is not yet free of the impacts of Covid-19, our robust pipeline, significant contracted backlog, long-term customer relationships and talented colleagues allow us to be confident in our outlook for both the current financial year and future periods,” the company said.