Latest news with #Kainos
Belfast Telegraph
7 days ago
- Business
- Belfast Telegraph
Allstate launches meet-up initiative aiming to help next generation of tech professionals in NI
The programme offers a lively platform for young people to develop vital career skills, explore emerging technology trends, and engage in discussions on important topics such as apprenticeships versus traditional university degrees. The meet-up also provides crucial networking opportunities, helping attendees forge connections within NI's thriving tech community. The inaugural event took place earlier this year at Allstate's Belfast office, attracting more than 100 participants from a broad range of local tech companies including Liberty IT, Kainos, BT and Aflac. The gathering brought together early-career professionals and students from across the region, united in their desire to learn, collaborate and grow alongside industry experts. Keynote speakers included Stephen McKeown, vice president and managing director at Allstate, and Neil Hutcheson, CEO of Software NI, who shared insights on the evolving tech landscape. Attendees also heard from Allstate graduate Lucy Doyle, who spoke about her journey from education into the workforce, as well as Max Lilleyman and Callum Mohan from Kainos, who discussed alternative pathways into tech careers. The speakers highlighted the variety of routes available in the industry, from graduate roles and placements to insight programmes and degree apprenticeships, showcasing the many opportunities for emerging talent to thrive. Stephen McKeown commented: 'At Allstate, we're proud to launch the Early Tech Talent Meet-Up, an initiative designed to connect, support, and inspire the next generation of technologists. Creating a space where emerging talent can share ideas, build networks, and learn is critical to developing a strong, innovative tech community. This is a key part of our commitment to nurturing talent and investing in the future of technology both within Allstate and across the region.' Following the formal sessions, attendees enjoyed a networking reception, fostering informal conversations and helping to build lasting professional relationships. The Early Tech Talent Meet-Up is designed to evolve with its participants, reflecting their needs and interests as they progress in their careers. Allstate plans to continue this momentum with the next event scheduled for 4 June, which will focus on AI software development, the future of AI in Northern Ireland, and practical guidance from Jordan McDonald, CEO of Intrinsic AI.
BBC News
20-05-2025
- Business
- BBC News
Kainos boss says he regrets redundancies at IT firm
The boss of Northern Ireland's largest IT business says he "deeply regrets" the 190 redundancies the firm made earlier this Mooney was speaking as Kainos announced its annual pre-tax profit had fallen by 15% from £77m to £ included £8.4m of one-off restructuring costs related to the job losses should save the firm about £19m a year of which about two thirds will be invested in growth areas like AI. The remainder will be allocated to staff-related cost increases, including pay rises and higher UK National Insurance Mooney said the weaker performance of the business last year partly reflected a pause on government spending decisions around the time of last year's general UK public sector is the firm's single biggest market."It caught us by surprise," he said of the election reflects the expectation that the last prime minister would wait until the end of 2024 rather than holding the election in the summer."The whole of the second half of last year was basically very slow for the public sector, and no real decision making," he Mooney said things had since picked up but the June spending review would be key for understanding government intentions to spend on digital services over the next few years. Kainos also saw a significant fall in its commercial sector revenues last year which Mr Mooney said is being addressed with new approach which included bidding for "smaller more agile engagements" rather than relying on larger contracts from a few big major bright spot in the company's performance was its Workday products is a suite of financial management and HR software. Kainos helps companies deploy and manage Workday, as well as creating its own Workday-compatible products.
Belfast Telegraph
19-05-2025
- Business
- Belfast Telegraph
Pre-tax profits down over £15m at Belfast software giant
The Belfast-based firm, the only NI-based company on the FTSE 250, said the results are in line with revised expectations, and announced an intention to continue a share-buyback programme worth tens of millions of pounds. And it revealed that 190 staff at Kainos have left the company in the past year, a reduction which represents 7% of the total global workforce, as part of a restructuring programme. Revenues at the company were down 4% between the 2025 and 2024 financial years, going from £367.2m to £382.4m. Bookings also went down in the period, falling 10% from £382.4m to £424.5m. Cash held by the business did increase by 6% in the past 12 months, going from £126m to £133.7m. Overall, the statutory profits before tax fell by a quarter between the two years, going from £64.8m to £48.6m. The dividend paid per share went up 4% in the past year, going from 27.3p to 28.4p. Brendan Mooney returned to the role of CEO at Kainos at the end of 2024, only 15 months after he had stepped down. Mr Mooney said: "Our results reflect a mixed year for Kainos, with strong growth in Workday Products and in our healthcare sector, set against broader market challenges in IT services - particularly in Workday Services and in the public and commercial sectors of Digital Services. 'We remain grateful for the trust our customers place in us to deliver their critical transformation initiatives. The economic backdrop has affected them and for many, the focus has been on maintaining investment in critical transformation programmes. 'For others, it has led to reductions or delays in technology expenditure as they navigate an ever-changing business environment. 'We delivered an improved business performance in the final quarter, where we recorded low single-digit percentage revenue growth, which allows us to look ahead with greater confidence, despite the ongoing volatility in the macroeconomic environment. 'My final words - and my thanks - go to my colleagues. For many years, they have continuously exhibited their expertise and ability and in recent weeks have also shown great resilience, especially in the wake of the recent restructuring. 'Thank you again for everything you do for Kainos." News Catch Up - Monday 19 May Kainos' 2024 results saw them finish fourth in the Belfast Telegraph's list of the Top 100 companies in Northern Ireland. The company is due to move from is headquarters at Upper Crescent into new offices at Bankmore Square on Belfast's Dublin Road.
BBC News
04-03-2025
- Business
- BBC News
Kainos: Belfast IT firm to make 190 staff redundant
Kainos, the Belfast-based IT firm, is making 190 of its staff currently employs about 3,000 people, mostly in Northern December, the company replaced its recently-installed chief executive after warning shareholders that full year sales would be below market warning said the business was experiencing a tougher trading environment as clients delayed decisions on projects. 'Difficult decision' In a statement on Tuesday, the firm said it had made the "difficult decision" to reduce its workforce in response to the "current market environment".This is affecting approximately 7% of its global team, it added."This decision was made with careful consideration and a focus on the long-term growth opportunities of our business."While our business fundamentals remain strong, this step allows us to manage costs responsibly while continuing to support our customers."We recognise that this means saying goodbye to talented colleagues who have made valuable contributions to Kainos. They leave with our deep gratitude, and we are committed to supporting them in their transition to new opportunities." The company's share price has struggled over the last year falling from around 1200p in May to around 700p on has been undertaking a share buyback scheme in an attempt to boost the share is one of Northern Ireland's most successful companies and has grown rapidly in recent specialises in helping organisations digitise their operations and counts UK government departments among its major services were in high demand during the pandemic and the company hired hundreds of staff as it is currently building a new headquarters at a site on the Dublin Road in Belfast city centre.
