Kainos: Belfast firm reports £68m pre-tax profit

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

Kainos, the Belfast IT firm, increased its sales by 24% from £303m to £375m in the financial year ending in March 2023.

Adjusted pre-tax profit was up by 15% from £59m to £68m.

The business now employs almost 3,000 people across its global operations.

Kainos specialises in helping organisations digitise their operations and counts UK government departments among its major clients.

The firm received a boost during the pandemic as more organisations responded to changing ways of delivering services.

That momentum has been maintained with growth across most divisions, although revenues in the health division have declined following the easing of pandemic-related spending.

Global expansion

Chief Executive Brendan Mooney said the business was "becoming increasingly resilient".

"From our UK base, we have expanded globally with over one-third of our revenues now generated internationally," he said.

International revenues were up by 52% over the year to £132m which compares to just £18m five years ago.

Mr Mooney said that most of the global revenues were coming from the firm's expertise in Workday, a suite of financial management and HR software.

However, the business is aiming to grow its public sector work, particularly in Canada.

Mr Mooney said the Canadian public sector was "seven or eight years behind the UK" in terms of digitisation and there was the opportunity to replicate the UK experience in that market.