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Kainos ups dividend as profit doubles on digital transformation demand
StockMarketWire.com
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IT provider Kainos raised its interim dividend after profit doubled in the first half of the year, as the pandemic boosted digital transformation activity.
For the six months ended 30 September 2020, pre-tax profit doubled to £24 million from £12m as revenue rose 23% to £107.2 million year-on-year.
The company increased its interim dividend by 83% to 6.4p a share.
'We anticipate that Covid-19 will continue to accelerate the already strong demand from customers for digital transformation and workday services as organisations adapt to the changes that the pandemic has brought,' the company said.
'Looking forward, we remain confident in our outlook for the financial year, which is underpinned by a robust pipeline and a significant contracted backlog,' it added.
Story provided by StockMarketWire.com
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