Kainos Group plc Trading Update (0050J)
September 06 2016 - 2:00AM
UK Regulatory
TIDMKNOS
RNS Number : 0050J
Kainos Group plc
06 September 2016
ANNOUNCEMENT
6 September 2016
Kainos Group plc
("Kainos" or "the Group")
Trading Update
- Group maintains guidance for current year -
Kainos Group plc (KNOS), a leading UK-based provider of IT,
consulting and software solutions, today issues a trading update
for the period from 1 April 2016 to 31 August 2016.
In the Digital Services division, the Group is experiencing good
growth in the public sector. Demand from central and regional
government clients continues to strengthen, with notable new
contract wins at the National Offender Management Service and the
Home Office.
Demand for WorkSmart services is strong in the UK and mainland
Europe, where the Group has added a number of new enterprise
clients, including Tullett Prebon Group Limited. Take-up of the
Group's SaaS-based automated testing product, Smart, is solid and
the Group continues to invest in both product development and sales
and marketing for Smart.
The Evolve division continues to make progress with its
Integrated Care SaaS platform and has signed a five-year
subscription agreement with Hygieia to use Evolve to power its
insulin therapy navigation application which aims to help diabetics
systematically manage their changing insulin requirements. In the
UK, the Evolve for iPad(TM) offering, which allows clinicians to
access electronic patient records on the move, is now in live
operation at the South East Coast Ambulance Service. Market
conditions in the NHS remain challenging, with limited additional
funding to drive demand.
Although the outcome of the UK's referendum on Europe ('Brexit')
brings with it some uncertainties, the Group continues to see
immediate opportunities for growth.
Kainos has a robust balance sheet with strong reserves, no debt
and strong cash generation, as well as a growing level of recurring
revenue. The Group expects results for the full year to be in line
with market expectations.
-ENDS-
For further information, please contact:
Kainos via FTI Consulting LLP
Brendan Mooney, Chief Executive Officer
Brian Gannon, SVP Corporate Development
Investec Bank plc +44 20 7597 5970
Dominic Emery/Sebastian Lawrence
Patrick Robb/Matt Lewis
FTI Consulting LLP +44 20 3727 1000
Matt Dixon/Chris Lane
About Kainos
Kainos is a UK-based provider of IT services, consulting and
software solutions. It specialises across multiple sectors in the
development of digital technology solutions, including software
design and agile software development. The Group's Evolve
Electronic Medical Records (EMR) product provides a market-leading
comprehensive suite of digital services to healthcare providers
such as hospitals and community care organisations. Kainos has also
developed an automated testing product, Smart, to complement its
Workday implementation services.
Kainos Group plc (KNOS) is listed on the main market of the
London Stock Exchange. At 31 March 2016, it had almost 800 staff
working in eight offices in the USA, UK, Ireland, Poland and the
Netherlands.
For further information please visit the company website:
https://www.kainos.com/
This information is provided by RNS
The company news service from the London Stock Exchange
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