NEWS21 September 2020

Kin + Carta issues trading update

Covid-19 Financials News UK

UK – Digital transformation business Kin + Carta has said it expects its financial results for the year ended 31st July to exceed previous expectations.

In a trading update, Kin + Carta said it expects revenue and profits for the financial year to be slightly ahead of what it estimated in a July update due to “a better end to the financial year”.

Kin + Carta reduced its net debt to £31.7m at the end of July from £39.5m in January.

The company said in the statement it “remains cautious regarding the continuing effects of the pandemic on H1 of the current financial year which commenced 1st August 2020”.

It added: “Early signs of improvement in client activity, pipeline and continued traction with our strategic partners give us confidence in the company’s future prospects.”

Kin + Carta expects to announce preliminary results for the financial year ending 31st July in November.