Kin and Carta witnesses 'continued strong demand' in H1
Sivota
3.50p
16:35 14/11/24
IT service management firm Kin and Carta said on Thursday that it had experienced "continued strong demand" throughout the first half of its trading year.
Nonequity Investment Instruments
0.00
17:17 25/09/06
Kin and Carta said net revenues from continuing operations were pegged to be roughly £85.0m, while adjusted operating margins for the six months ended 31 January improved to approximately 7%, up from 3% a year earlier.
As far as the full-year was concerned, the London-listed firm now expects higher organic net revenue growth from continuing operations of 35-40%, up from 30%.
Kin and Carta added that it expects similar seasonality to prior years, with higher net revenue and adjusted operating margins in the second half compared to the first.
Chief executive J Schwan said: "Our trading performance continues to improve with strong first-half revenue growth and operating margin expansion.
"As in previous years, our second half is expected to show a stronger performance with higher net revenue levels and improving operating margins."
As of 0850 GMT, Kin and Carta shares had shot up 9.33% to 235.05p.