Expanding IT firm Kainos plans new Belfast HQ as sales hit £96.7m
Belfast IT company Kainos has said it will announce a move to new headquarters over the next few weeks as it reported a 16% jump in sales to reach £96.7m in its eighth year of growth.
In preliminary results for the year ending March 2018, the firm - one of just three listed companies in Northern Ireland - said adjusted pre-tax profits were up 7% to £15.3m.
New offices in southern Europe are also on the cards for the plc, which employs around 1,170 people.
Chief executive Brendan Mooney said the firm will decide on the location of new headquarters in Belfast after outgrowing its home off Botanic Avenue.
The company, which provides digital services and platforms, and acts as a partner for Workday software, said performance was in line with market expectations.
The results showed growth in international markets after Kainos opened new offices in Frankfurt, Copenhagen and Amsterdam. It now has 11 offices - including one in Atlanta, Georgia.
Mr Mooney said: "That trend will continue as we look to develop those markets.
"Home markets are key but we want to see both grow as we expand the company.
"You should expect us to be in southern Europe in around 18 months - somewhere warm and sunny rather than the chilly Nordic countries."
Mr Mooney said Kainos will stay in the Queen's Quarter close to the university, regardless of the lure of new office developments in locations such as City Quays and repurposed offices in the city centre.
He added that the firm was about to decide where its new offices will be.
"It has been a long, drawn-out process," he said. "We quite like Queen's Quarter and we have so many graduates joining us. The whole area has a real vibrancy."
Revenue from government customers and the commercial sector to account for 56% and 30% of revenue respectively is up, but healthcare revenue is down to 14% of sales, compared to 17% a year earlier.
Mr Mooney said a crisis in NHS funding meant new IT systems were now no longer a priority.
"If customers aren't buying then we can't sell to them," the chief executive added.