Updates

Kainos - Order backlog +54% to Â£56.7m

December 2015

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Kainos’ maiden interims showed the company continued to rapidly scale up its headcount, with 60 new staff joining, taking the total to 788 at 30 September. The keynote is that it takes time for new hires to get trained and accredited and this has resulted in more staff being underutilised (72% utilisation achieved down from 76%) although recruitment remains a priority in the face of strong demand across all parts of the group. Despite headcount rising, Kainos’ utilisation and margins will repair themselves in H2 helped by a contracted backlog up a blistering 54% to £56.7m. H1 sales were up a third to £37.2m, with adjusted pretax profit up 20% to £6.8m for eps of 4.8p. Cash at the period end stood ...

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