UK share prices continue to struggle for traction in end-of-week trading. The FTSE 100 for instance has fallen back to 6,700 points as concerns over the Covid-19 crisis linger. The FTSE 250 was also down more than a percent on fears over the fragile economic recovery.
However, the Kainos Group (LSE: KNOS) share price isn’t suffering from this broader risk aversion. This FTSE 250 stock has surged around 20% in Friday business following a positive reception to latest trading numbers. At £13.40 per share, this UK share is within a whisker of hitting new record highs.
Kainos is on the march!
In those fresh financials, Kainos Group said “continued momentum in our business has driven a strong trading performance” in the period from 16 November to today. And, as a consequence, the IT services giant declared that results for the full year to March 2021 would surpass current market expectations.
At its Digital Services division, Kainos said: “We continue to work on several substantial, long-term engagements as part of the UK Government’s digital transformation programme.” This includes working with the NHS in combating the Covid-19 crisis, it added.
At its Workday Practice unit, the UK share noted that “we continue to win new consulting contracts across all our operating regions.” This is thanks to its “scale, quality and global reach,” Kainos said.
The company added that its Smart specialist automated testing platform has continued to drive client acquisitions. The platform helps more than 200 customers worldwide and has a particularly large North American client base.
To round off a terrific release, Kainos added: “Our robust pipeline, strong balance sheet and significant contracted backlog underpins our confidence in our outlook.”
Another soaring UK share
Kainos isn’t the only UK share to go gangbusters on Friday business however. Food and fragrance ingredients maker Treatt (LSE: TET) has also risen strongly after releasing brilliant trading details of its own. At 854p per share, the small-cap was last up 11% from Thursday’s close. This also represents new record peaks.
Treatt said it has enjoyed “strong operating performance across multiple categories and customers” in the period since 30 September. It’s also enjoyed “new organic revenue growth and enhanced margins from improving product mix.”
As a result, Treatt said profits for the four months of the current financial year (to September) would beat the board’s prior expectations. But the UK share wasn’t done there. It added that it’s “cautiously optimistic that current strong momentum will result in profit before tax and exceptional items for [financial 2021] materially exceeding the current market consensus of £15.1m.” This is despite the problem of Covid-19 headwinds and the risks created by movements on currency and commodities markets.
Treatt also noted it’s performing particularly well in its citrus, health & wellness, fruit & vegetables and tea categories. And it said the fast-growing alcoholic seltzer category had created some material new business wins.