Kainos FY results seen in line with market expectations

IT services provider Kainos said on Thursday that its full-year results were expected to meet current market forecasts for revenues of £335.7m-373.4m and adjusted pre-tax profits of £62.7m-66.5m.

Kainos stated that trading in the five months ended 1 September had been "very strong" across both its digital services and workday practice units, with its digital services teams continuing to deliver "major transformation programmes" to new and existing clients and its workday practice continuing to benefit from its "well-established global presence and reputation".

"While we are cognisant of the global macroeconomic landscape, our robust pipeline, strong balance sheet and significant contracted backlog underpin our confidence in our outlook. As a result, we believe that we are well-positioned for further growth and remain confident in our strategy," said Kainos.

The FTSE 250-listed firm added that as a result of the "continued growth" of its workday services and workday products businesses, its interim results will now show both businesses as separate divisions.

Reporting by Iain Gilbert at Sharecast.com