Kinovo plc provided earnings guidance for the six months ending 30 September 2023. With a number of planned works being delayed due to clients' administrative bottlenecks and only commencing in the latter part of the first half, the Board expects to report a revenue increase of 2% to £30.34 million (H1 2023: £29.76 million) with a 9% increase in gross profit to £8.40 million (H1 2023: £7.71 million). As the planned works progress and new contract wins are fully mobilised, revenues are expected to pick up further in the second half of the year, albeit at more normalised margins, as part of the Group's traditional second half weighting.

The Board expects to report adjusted EBITDA growth of 21% to £2.91 million (H1 2023: £2.40 million) and Operating Profit growth of 46% to £2.75 million (H1 2023: £1.87 million) driven by a favourable work mix, enhanced by the Group's operational efficiencies and lower non-underlying costs.