This report provided the Cabinet with a review of Kyndi’s performance, for the second and third quarters of the 2021/2022 financial year. It was accompanied by an update on the company’s achievements and financial performance prepared by the Chief Executive at Kyndi.
The report highlighted that Kyndi’s pre-tax profit for the second and third quarters of 2021/22 was £451K and that the year end forecast for 2021/2022, subject to continued good trading activity, was £569K.
The Cabinet noted the six-monthly performance report for Kyndi for the period Quarters 2 and 3 for financial year 2021/2022.
When Cabinet agreed to establish Kyndi (previously MCG) it was also agreed that regular monitoring reports would be provided to Cabinet.