Kin + Carta PLC forecast a “strong performance” for the year to end-July as it announced that Kelly Manthey, the head of its Americas division, will succeed the current chief executive officer J Schwan, who is retiring.
Manthey, who has been with the digital transformation company for 16 years, has been appointed CEO with effect from 1 August. Schwan is retiring at the end of the year and will continue as a special adviser for six months to assist with the transition.
Kin + Carta said it expects net revenue for the year to 31 July 2022 to come in at around £191mln, up from £128.9mln the year before. On a like-for-like basis, net revenue is forecast to grow 38% at constant currencies, in line with market expectations and recently raised guidance.
The company said adjusted operating profit is set rise by 50% from the previous year’s £12.2mln, with margins in line with market expectations.
The strong current trading, a record order backlog, which stood at £104mln at end-June, and the company’s largest ever digital transformation contract, worth up to US$90mln over two years, “demonstrate continued momentum in the business and underpin medium-term growth expectations”, Kin and Carta said.
Net debt is expected to be in the single-digit millions of pounds sterling at 31 July, the company said, adding that it continues to pursue accretive acquisitions.