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Kin & Carta PLC on Wednesday it now expects revenue growth of 48% against the previous year, in line with its recently raised guidance, as it announced the departure of its chief executive.
Shares in Kin & Carta were up 7.4% at 184.80 pence on Wednesday morning in London .
The London-based business consultancy said it expects net revenue at £191 million for the year ended July 31, up 48% from £128.9 million the previous year. On a like-for-like basis, the company expects organic net revenue growth in constant currency of 38%, in line with market expectations and recently raised guidance in February.
Adjusted operating profit is expected to grow by 50% from £12.2 million the previous year at constant currency, with margins in line with market expectations.
Kin & Carta added it has a record backlog of order at £104 million as of the end of June, up 44% against the same time a year prior.
It also noted its largest digital transformation contract signed to date, worth up to $90 million over two years. The firm said this demonstrated its continued momentum and underpinned its medium-term growth expectations.
Kin & Carta also announced the retirement of its chief executive, J Schwan, at the end of its current financial year. He will be succeeded by Kelly Manthey, currently chief executive of the Americas.
Manthey will become CEO on August 1, though Schwan will continue as a special adviser for six months to assist with the transition.
The firm also announced that Chief Financial Officer Chris Kustor has been appointed to the additional role of chief operating officer.
Kin & Carta will publish its full-year results in October.
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