Belfast IT firm Kainos reports 16% half-year profit rise

Kainos specialises in helping organisations to digitise their operations and is a major supplier to UK government departments

Kainos, the Belfast IT firm, increased profits for the first half of this year by 16% to £34m.

Sales were up by 26% to £180m and the firm now employs almost 3,000 people.

Some major technology firms have announced falling profits and job cuts in recent weeks.

These have mostly been in consumer-focused firms whereas Kainos, which helps organisations to digitise their operations, sells to businesses and governments.

Kainos counts the UK government as one of its major clients.

Chief Executive Brendan Mooney said: "Despite the economic uncertainty, there is an urgency from our customers about extending existing projects and starting new projects."

"Looking forward, we remain confident in our business as the demand for our services has never been higher."

The firm showed particularly strong growth in its international business where sales were up 53% to £61m and there also new customers added in financial services, including Danske Bank.

Kainos said the integration of NHSx and NHS Digital organisations in England was "causing some delays in the award of new projects" although not disrupting ongoing projects.

The firm saw the value of its contracted backlog of work grow from £250m in the first half of last year to £308m this year.