Sam is a trader and one of our lead stock analysts at AskTraders. After starting his career predominantly in the forex markets, Sam now focuses on gold and stocks with a preference for macroeconomic analysis.
Kainos Group PLC (LON: KNOS) said on Friday that it expects results for the year ending 31st of March 2021 to be ahead of current market consensus expectations.
The update has seen Kainos shares surge 17.61% higher, currently trading at 1336p per share. They initially climbed to 1362p earlier in the morning.
The company's continued momentum has driven a strong trading performance during the period confirmed Kainos.
The FTSE-250 IT provider revealed that within its digital services division they continue to work on several substantial long-term engagements as part of the UK government's digital transformation programme which includes supporting the NHS as it responds to the Covid-19 pandemic.
They are also continuing to gain new client acquisitions through its Workday automated testing platform, Smart, which currently supports over 200 international clients mainly within North America.
Despite the ongoing challenges of the pandemic and Brexit, the UK-based firm said it is well-positioned for further growth and remains confident in its strategy…
“Looking ahead, our robust pipeline, strong balance sheet and significant contracted backlog underpins our confidence in our outlook,” Kainos stated.
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