Market Caution Dents Kin + Carta Expectations

Digital transformation consultancy Kin + Carta has issued a trading update for its full year 2023, which will end in July, reporting reduced expectations and a market 'even more cautious than it expected' at the time of interim results in March.

The firm says there 'remains hesitance among enterprise clients to commit to large programmes of work in this environment', leading to a like-for-like revenue decline of 11% - although it says operating margin will improve and significant new contract wins will push revenue up as they come through the pipeline longer-term.

Earlier this month, the firm bought Edinburgh-based Forecast Data, whose AI and machine learning tools help businesses understand, predict and optimise their performance.

CEO Kelly Manthey (pictured) says she believes the company is 'well positioned to take advantage of a return of confidence in our market'.

The group employs 2,000 consultants, engineers and data scientists and is headquartered in London and Chicago, with a home page at www.kinandcarta.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.