Business
Trading Update and Special Dividend
Trading Update and Special Dividend.
About this update from Kainos Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 0899U\n Kainos Group plc\n 27 July 2020\n \n \n \n Trading Update and Special Dividend\n Kainos Group plc (\"Kainos\" or \"the Company\")\n Trading Update\n Kainos Group plc (KNOS), a leading IT provider, operating across two specialist business areas, Digital Services and its Workday Practice, today issues a trading update for the period from 1 April 2020 to date.\n Trading\n Despite the impacts of Covid-19, trading in the period has been strong and we expect revenue to be well ahead and adjusted profit to be substantially ahead of current consensus forecasts for the full year ending 31 March 2021.\n The resilience in our business has been driven by our long-term relationships with our customers, by on-going demand within the NHS, Public Sector and Workday segments and by our diversification of revenues across customers, end markets and geographic regions.\n During the period, the pausing of recruitment has generated several one-off efficiencies in utilisation, recruitment costs and training costs and we have experienced reduced travel expenditure during the lockdown period. We view the majority of these efficiencies as non-recurring in nature and, post-lockdown, will reduce when our growth resumes.\n Our People\n When we invoked our COVID-19 response plan on 5 March, we implemented home working for over 1,700 colleagues, placing them in the safest possible environment from which to provide on-going support for all our customer engagements.\n Our people have been remarkable in their response to the challenges that COVID-19 has presented and the seamless fashion in which they have supported our customers, delivering key programmes during the lockdown period, including the NHS Home Testing Service, the Companies House Appeals Service, Concardis SmartPay (Germany) and Workday deployments at Stibo (Denmark) and Frontiers (Switzerland).\n We continue to ask all our people to work from home, which we believe represents the safest possible environment for them; and allows us to play our part in reducing the pressure on healthcare systems across all our locations.\n UK Government Job Retention Scheme\n As part of the precautionary cost containment measures implemented earlier this year, we made use of the UK Government Job Retention Scheme and placed 131 colleagues on furlough.\n In light of our p...