NEWS21 August 2019

Profit warning from Kin + Carta

Financials News UK

UK – Strategy, innovation and communications group Kin + Carta (formerly St. Ives) has issued a profit warning ahead of its financial results.

In a trading update, the company said its profit before tax is expected to be “marginally lower than market expectations” for the year to 31st July 2019.

The company attributed the forecast lower profits to its increased investment in a transformation plan and re-positioning its ‘communications and strategy pillars’.

The results for the year to 31st July will be announced on 2nd October.

Gross revenue for the full year is expected to be “marginally down” like-for-like, the company said, while it expects its net revenue to be up slightly compared to the previous year.

J Schwan, chief executive, said: “Innovation continues to power ahead and is increasingly recognised for the market leading solutions it brings to its clients. The work to re-position our strategy and communications pillars, as well as the increased level of investment in the connective growth platform will drive sustainable profitable growth in the new fiscal year.”