John Simpson's company report: Kainos Ltd
Kainos was originally established 27 years ago, partly as a spin-out from Queen's University, in association with Fujitsu. In recent years, operating as a Northern Ireland-based company, it has expanded its business base, its geographic market reach and its employment levels. The company has headquarters in Belfast, but has other offices in Derry, Dublin, Poland and the United States.
Kainos is a digital services company specialising in information technology expertise to a variety of clients, particularly in government, financial services and healthcare.
The recent annual report offers an optimistic and confident analysis of the greatly improved performance of the company in the last three years. Chairman Dr John Lillywhite says the company delivered an extraordinary performance in 2012-13.
Managing director, Brendan Mooney, develops the buoyant note in the annual report when he describes the good results in 2013 as merely a scene-setter for the years to come.
In the last year, the business signed 575 new contracts with customers. Contracts with the UK Cabinet Office have preceded work for the Department of International Development, DEFRA, the DVLA and the Home Office. Turnover increased by 17% to reach £29.7m, and pre-tax profits improved by over 70% to reach just under £3.5m. Average employment rose by 74 people. Post-tax profits have been retained in the company and, as a result, in the year to March 2013, shareholder's funds rose by 43% to reach £10.9m.
Key products and services which give optimism for future growth include Workday, a fast-growing provider of enterprise HR and finance applications in the cloud and Evolve, an operational system that is now installed in 36 hospitals in the NHS and is credited with helping to generate a paperless environment by 2018.
In its several locations, the company has capacity for 602 desks, pointing to scope for expansion.