Turnover at Northern Ireland software company Kainos rose by 24 per cent to £374.8 million (€431.4 million) in the 12 months to the end of March, marking the group’s 13th consecutive year of growth.
Kainos, which provides digital technology services and platforms to customers that include the National Health Service (NHS), was established in 1986 as a spin-out company from Queen’s University Belfast.
The group’s adjusted pre-tax profit increased by 15 per cent to £67.6 million from £58.8 million the year before.
In line with its previous guidance, the company has increased investment in its software products, representing a total of £9.3 million.
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Research and development investment increased to £9.1 million from £6 million, and its product-related sales and marketing investment increased to £10.8 million from £4.6 million.
Bookings for the year increased by 22 per cent to £427.8 million, which resulted in a 24 per cent increase in the contracted backlog to £322.9 million.
The company had a cash balance of £108.3 million at the end of its financial year, which was up from £76.6 million the year before.
Since last year, the group’s headcount has grown by 298 to 2,990 people. About 7 per cent of these are contractors.
By region, staff in Britain and Ireland increased by 190 to 2,130 people. Central Europe increased by 50 to 465 people, and the Americas increased by 58 to 395 people.
Kainos chief executive Brendan Mooney said the growth of the digital transformation market is translating into continued demand for its work.
“Despite the economic uncertainty, there is an urgency for our customers about extending existing projects and starting new projects, as they change the ways they deliver essential services to citizens, patients, customers and employees,” he said.
“As a result, our business is becoming increasingly resilient. We work with over 800 organisations, many of whom are international in scale and who operate across a range of industries.
“From our UK base we have expanded globally, with over one-third of our revenues now generated internationally.”
