Kainos down as it sees political risks

FTSE 250 software development firm Kainos (LON:KNOS) saw its share price drop by 7.88% to 456p (as of 14:00 BST) despite its announcement that overall results for the year ending 31st March will be in line with current market expectations. The company did say that it was being cautious with regards to public sector income for its digital services arm due to uncertainty around political conditions, but progress in the commercial sector was promising.

Management said that the expansion of workday services into the US and European markets was proceeding well with a number of client wins.