Belfast IT firm Kainos reaches £1bn valuation
- Published
Kainos, the Belfast-based IT firm, has reached a stock market valuation of more than £1bn.
The valuation represents the number of company shares multiplied by the current price of those shares.
The company's share price has risen sharply in recent months from about £5 in November to more than £8 today.
Kainos specialises in helping organisations to digitise their operations.
It is a major supplier to UK government departments and other public bodies.
Strong results
In November, the company posted a strong set of results for the first half of the financial year.
Kainos employs 1,550 people across 12 offices in Europe and North America
Turnover was up 29% to £87m and adjusted pre-tax profit rose by 27% to £13m.
The company said it was showing good progress in growing its non-UK business with international turnover up 86% to £18m.
Kainos employs 1,550 people across 12 offices in Europe and North America.
It is planning to develop a new headquarters building in Belfast over the next two years.
- Published11 November 2019
- Published2 August 2017
