Kainos climbs after 'strong momentum' helps to conquer expectations

Kainos Group rose on Monday after reporting that it expects to beat full-year market expectations courtesy of "very strong momentum" in its core markets.

A statement from the AIM traded company said: "Growth in Digital Services continues to be very strong, with ongoing demand for both Digital Transformation and Workday Services, across government and commercial clients. Digital Platforms continues on its growth trajectory, in line with previous guidance."

The group's digital services include full lifecycle development and support of customised digital services for government and commercial customers, while its digital platforms division supplies specialised digital products in the mobile healthcare and automated testing arenas.

The digital services and platforms provider, which has 1,400 employees across eleven offices in Europe and the USA, last year recorded profit before tax of £14.3m on revenue of £96.7m, while it achieved pretax profit of £8.7m on revenue of £67.2m in the first half of the current financial year.

Kainos' shares were up 5.93% at 449.38p at 1305 GMT.