Pre-tax profits down over £15m at Belfast software giant
The Belfast-based firm, the only NI-based company on the FTSE 250, said the results are in line with revised expectations, and announced an intention to continue a share-buyback programme worth tens of millions of pounds.
And it revealed that 190 staff at Kainos have left the company in the past year, a reduction which represents 7% of the total global workforce, as part of a restructuring programme.
Revenues at the company were down 4% between the 2025 and 2024 financial years, going from £367.2m to £382.4m. Bookings also went down in the period, falling 10% from £382.4m to £424.5m.
Cash held by the business did increase by 6% in the past 12 months, going from £126m to £133.7m.
Overall, the statutory profits before tax fell by a quarter between the two years, going from £64.8m to £48.6m.
The dividend paid per share went up 4% in the past year, going from 27.3p to 28.4p.
Brendan Mooney returned to the role of CEO at Kainos at the end of 2024, only 15 months after he had stepped down.
Mr Mooney said: "Our results reflect a mixed year for Kainos, with strong growth in Workday Products and in our healthcare sector, set against broader market challenges in IT services - particularly in Workday Services and in the public and commercial sectors of Digital Services.
'We remain grateful for the trust our customers place in us to deliver their critical transformation initiatives. The economic backdrop has affected them and for many, the focus has been on maintaining investment in critical transformation programmes.
'For others, it has led to reductions or delays in technology expenditure as they navigate an ever-changing business environment.
'We delivered an improved business performance in the final quarter, where we recorded low single-digit percentage revenue growth, which allows us to look ahead with greater confidence, despite the ongoing volatility in the macroeconomic environment.
'My final words - and my thanks - go to my colleagues. For many years, they have continuously exhibited their expertise and ability and in recent weeks have also shown great resilience, especially in the wake of the recent restructuring.
'Thank you again for everything you do for Kainos."
News Catch Up - Monday 19 May
Kainos' 2024 results saw them finish fourth in the Belfast Telegraph's list of the Top 100 companies in Northern Ireland.
The company is due to move from is headquarters at Upper Crescent into new offices at Bankmore Square on Belfast's Dublin Road.
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