Irish software company Kainos Group Plc (KNOS.L) announced on Monday that its Board expects full-year revenues and adjusted profit before tax or PBT in line with current market expectations, as businesses, overall, improved in the final quarter, recording low-single-digit percentage growth.
In its year-end trading update, Kainos expects revenues to be between 363.3 million and 366.8 million pounds, compared to the market consensus of 365.6 million pounds. Adjusted PBT is expected to fall between 64.1 million and 68.2 million pounds, compared to the consensus estimate of 65.4 million pounds.
The company said its Workday Products division reported Annual Recurring Revenue or ARR of more than 72 million pounds at the end of the final quarter. The Built on Workday partnership continues to progress well, helping the company reach its initial ARR target of 100 million pounds by 2026 and in-line with the long-term ambition of touching 200 million pounds by 2030.
In Digital Services, public sector revenues returned to growth in the second half of the year following a temporary slowdown related to the UK election. However, activity in the commercial sector remained well below prior-year levels.
The company added that in the Workday Services division, demand remained subdued, resulting in further reductions during the second half. While market conditions remain challenging, early signs of recovery are seen, helped by increased international activity and recent client wins in Australia and New Zealand.
The company will announce its fiscal 2025 results on May 19.
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