By Ian Walker
Kainos Group on Monday reported an 18% rise in pretax profit for fiscal 2023 on higher revenue due to robust underlying market demand and high levels of customer engagement.
The U.K.-based IT provider made a pretax profit for the year ended March 31 of 54.3 million pounds ($67.6 million) compared with GBP46.0 million for the comparable period a year earlier.
Adjusted pretax profit–which strips out exceptional and other one-off items–was GBP67.6 million compared with GBP58.8 million, while revenue rose to GBP374.8 million from GBP302.6 million.
Kainos said on April 19 that it expected adjusted pretax profit to be within the market forecast range of GBP66.1 million to GBP68.0 million and for revenue to be within the range of GBP351.7 million to GBP378.0 million.
Bookings for the year were GBP427.8 million compared with GBP349.8 million and the company’s contracted backlog stood at GBP322.9 million compared with GBP259.7 million, it said.
The board has declared a final dividend of 16.1 pence a share taking the total payout for the year to 23.9 pence, up from 22.2 pence in fiscal 2022.
Shares at 0736 GMT were up 27.0 pence, or 2.2%, at 1,251.0 pence.
Write to Ian Walker at [email protected]
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