Kainos enjoys ninth year of growth as revenues rise 56%

Kainos CEO Brendan Mooney says the firm is on track to continue growth for a decade and beyond
Kainos CEO Brendan Mooney says the firm is on track to continue growth for a decade and beyond
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Belfast-based software giant Kainos has enjoyed another year of growth as revenues over the past year grew by 56% to £151.3 million and pre-tax profits increased 52% to £23.3m.

The firm, which this year opened new offices in Paris and Toronto and announced a new HQ for Belfast, saw sales orders up 31% to £171.7m, international revenues up 44% to £29.0m and commercial revenues up 42% to £40.0 million.

Healthcare revenues were up 42% to £21.4m, but it was digital services that saw the most impressive growth surging 69%.

“In what is our ninth consecutive year of growth, I am pleased to report the strongest annual performance in that period, with significant increases in the number of people working in Kainos and in sales, revenue and adjusted pre-tax profit growth,” said CEO Brendan Mooney.

“In Digital Transformation we continue to deliver significant programmes in partnership with UK government and with leading commercial and international clients.

“In what is now a familiar pattern, our growth is fuelled by demand from both existing and new clients.”

Dr Mooney said Smart, the firm’s market-leading Software as a Service (SaaS) platform for automated testing of the Workday suite, continued to win global brands as customers, adding Home Depot, Prudential and Vassar College in New York during the year.

In contrast, he said that although healthcare-related revenues had grown strongly, Evolve, the firm’s electronic medical records (EMR) solution for the NHS continued to experience “headwinds within the NHS funding landscape”.

“As a Group, we remain focused on providing exceptional careers for our staff and exceptional digital products and services for our customers. The Group’s pipeline of prospects continues to strengthen, and the Board believes that the Group is well-positioned for growth both in the short term and in the coming years.”