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Here’s Why Kainos Share Price Surged 22% to Print Record Highs

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Updated: 27 July 2020

Shares of Kainos Group PLC (LON: KNOS) surged more than 22% today on expectations that sales and profits will come ahead of expectations

Kainos, a provider of medical software solutions, said it recorded a strong performance in the last four months. 

“During the early stages of COVID-19, we successfully adapted to the changing business environment and we remain confident that we will be able to respond to any future challenges in the wider macro-economic backdrop,” Kainos said in a statement.

“However, we maintain our view that it is too early to predict the duration or the severity of the COVID-19 economic disruption and any impact it will have on our customers.”

As a result, the firm will reinstate its dividend as underlying profits are expected to come “substantially ahead” of current forecasts. 

 Kainos share price surges 22% July 2020

Kaionos share price gained more than 22% today to trade above 1000p for the first time ever. Shares of the company have jumped more than 40% in the last five weeks.