Pictured: Brendan Mooney, CEO, Kainos
Northern Ireland-based software company Kainos reported a 24% increase in annual revenue from 2022 which marks a 13th consecutive year of growth for the company. Kainos is our Company of the Month May 2023, in association with KPMG.
Company of the Month
The Company of the Month Award, in association with KPMG, recognises outstanding Irish companies. It especially acknowledges those who have made significant contributions to the business community of Ireland.
Recipients of the award are automatically put forward as candidates for the prestigious Company of the Year Award at the annual Business & Finance Awards.
Kainos
Kainos is a technology company that provides businesses with information technology services, consulting and software solutions. The firm was established in Belfast in 1986 and deploys Workday to clients to help improve their business operations.
The company has been steadily growing over the last decade and reported a revenue increase of 24% to €431.4 million in the twelve months to the end of March. This marks Kainos’s 13th consecutive year of growth.
The company also experienced a 15% jump in adjusted pre-tax profit from €68.8 million to €78.9 million with Kainos’ cash balance up from €89 million to €126.4 from the year before.
Company bookings for the year increased by 22% up to €499 million which subsequently led to a 24% increase in the contracted backlog to €377 million.
Investing in the future
Kainos has increased investment in its software products by €10.8 million as an indication of further growth plans. The firm increased expenditure on research and development to €10.6 million from €7 million and on product-related sales and marketing from €12.6 million from €5.3 million.
Company headcount grew by 298 to 2990 people with contractors making up 7% of this group.
“Despite the economic uncertainty, there is an urgency for our customers about extending existing projects and starting new projects, as they change the ways they deliver essential services to citizens, patients, customers and employees,” said Brendan Mooney, CEO, Kainos.
“As a result, our business is becoming increasingly resilient. We work with over 800 organisations, many of whom are international in scale and who operate across a range of industries.”
“From our UK base we have expanded globally, with over one-third of our revenues now generated internationally.”
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