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Kin & Carta PLC - London-based business consultancy - Expects net revenue for the six months ended on January 31 to reach £98.8 million, up 15% from £85.6 million a year before. Says like-for-like net revenue was down 6% in total with a 1% decline in America and a 16% decline in Europe, driven by ‘particularly difficult trading conditions in the UK’. Expects net revenue in the second half to grow 8% to 12% over the first half, with higher operating margin. Adjusted operating margin in H1 is in line with the prior period at around 8% with H2 expected to be stronger. Kin & Carta says its medium term guidance of 15% net revenue growth and adjusted earnings before interest, tax, appreciation margins in the mid-to-high teens remains unchanged. Chief Executive Officer Kelly Manthey says: ‘Despite macro headwinds tempering short-term growth across the industry, we remain focused on our long-term strategy that prioritises enterprise clients with high quality, resilient revenue, delivered with higher margin nearshore delivery. Our record backlog demonstrates the ongoing demand for our services.’ Current stock price: 130.98 pence each, down 30% on Friday 12-month change: down 43% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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