- IT group Kainos said profit rose by more than a third in the first half of the year as its digital services division maintained momentum.

The company also said it had acquired Formulate and Implexa, for an undisclosed sum.

The companies, formulate in the UK and Implexa in Germany, were experts in financial and business planning software.

For the six months ended 30 September, pre-tax profit rose to £12m as revenue increased 29% to £86.9m on-year.

Sales orders were up 10% to £99.5m and contracted backlog grew 4% to £131.0m.

'We are announcing another confident set of results, and remain on track to deliver our tenth consecutive year of growth, which we measure in terms of our people, customers, revenue and adjusted pre-tax profit,' said chief executive Brendan Mooney.

At 8:16am: [LON:KNOS] Kainos Group Plc share price was +14p at 526p

Story provided by