Kainos shares boom on digital shift

The share price of Kainos (LON: KNOS) soared 26 percent after it confirmed it is continuing to benefit from the digital shift.

In a trading update, Kainos confirmed that it expects its full year results to be materially ahead of revenue and forecasts for the year ending March 2021.

Its two main specialist areas continue to see positive benefits:

“As referenced in our September update, our Digital Services customers continue to prioritise digital transformation programmes in the NHS and Public Sector, and as a trusted partner to the UK Government, we continue to support these critical, long-term programmes. 

Our Workday Practice continues to benefit from its international scale and an ability to secure new consulting contracts across all our geographies.  Alongside these engagements, our specialist Workday automated testing platform, Smart, continues to support over 200 international clients and to drive new client acquisition, especially within the US market.”

However, it did warn that trading during the current period (1 April to date) has benefited from a number of one-off efficiencies including reductions in travel costs and recruitment.

The share price of Kanos is currently at 1,287p.

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