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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
K3 Business Technology Group Plc | LSE:KBT | London | Ordinary Share | GB00B00P6061 | ORD 25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 108.00 | 106.00 | 110.00 | 108.00 | 108.00 | 108.00 | 62,000 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Fabricated Rubber Pds, Nec | 47.48M | -3.98M | -0.0902 | -11.97 | 47.62M |
Date | Subject | Author | Discuss |
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02/6/2015 10:56 | We are holding one of our popular Investor Masterclasses in Manchester so local investors and shareholders in KBT may be interested in attending as KBT is based nearby our venue... | sharesoc | |
19/3/2015 11:00 | Edison out with a note - 18/3/15: We have revised our forecasts to take account of the company’s new reporting format. Our revenues and normalised operating profit forecasts are substantially unchanged. In FY15, we forecast revenue growth of 17.5% for Retail and 6.2% for Manufacturing & Distribution and a normalised operating margin of 7.8% and 14.6% respectively. Due to an increase in our net debt forecasts, we have increased our net interest expense estimates for FY15 and FY16, which results in a cut to normalised EPS of 5.4% in FY15 and 3.4% in FY16. | simon gordon | |
17/3/2015 13:53 | Finncap; KBT – CORP – TP: 330.0p – Market Cap: £72.3m Interims to December 2014 show delivery in line with the January trading update, accompanied by improvements in disclosure which serve well to highlight the strengths of the company and illustrate the company’s own product focus. With 11% growth in recurring revenue (48% of group revenue) and 21% group revenue growth, revenue statistics are all strong. 22% of revenue and 27% of gross profit derives from K3’s own IP, which delivers functionally rich sector specific integration, making third-party ERP systems more relevant to sector specific environments. As evidence of success of that IP, K3 is now Microsoft’s global preferred partner for the fashion retail sector. Trading at only 11.5x June 2015 P/E, there remains plenty of upside opportunity – we upgrade our target price to 330p (300p). | davebowler | |
17/3/2015 11:14 | Tech Market View - 17/3/15: Skills shortages squeeze K3 First, let’s applaud the top team at AIM-listed mid-market value-added reseller K3 Business Technology Group for disclosure. The new format for their results let’s you see more of what’s going on under the covers so you can get a better handle on how the key parts of the business are performing. It’s not perfect but it’s better. This is particularly important as K3 progresses on its journey to increase the proportion of its own IP in the mix. As presaged in its trading statement earlier this year (see K3 provides further encouragement) there were encouraging signs in H1 (to 31st Dec. ’14). Revenues grew by 21% to £41.7m, with operating profit up by nearly 80% to £2.3m, lifting operating margins by nearly two points to 5.6%. Still room for improvement there, of course. Pre-tax profits more than doubled to £1.8m. The profit boost was the effect of lower restructuring and amortisation costs; gross margins for its two main business lines (Retail, and Manufacturing/Distri Although K3 presents itself as a ‘business of two halves’ along industry vertical lines, there are a host of sub-businesses under the covers. Besides its own IP there’s also product resale for Sage (K3 is one of the largest Sage resellers in the UK), Syspro and Microsoft Dynamics NAV, plus application hosting and ‘cloud’ delivery, and hardware resale. Many hands are needed on many levers. We’ll be meeting K3 CEO David Bolton and CFO Brian Davis soon, after which more will undoubtedly follow. ===== I sold out this morning because of vagueness due to there being no outlook statement for the full year. Coupled with talk of "resource related challenges" it smells like a downgrade. Will look again at the Prelims. Good fortune. | simon gordon | |
16/3/2015 12:05 | Would anyone like to come to a results presentation with the directors tomorrow lunchtime in the City? | davidosh | |
13/2/2015 09:51 | On Windows - 23/1/15: K3 Retail builds on the success of its retail solution ax|is fashion Building on the strength of its relationship with Microsoft, K3 Retail is looking to extend its ax|is fashion solution to more retailers worldwide. Tony Bryant details the company’s vision and explains its plans to develop capabilities for other retail segments too Since it launched its fashion solution, ax|is fashion, in November 2013, K3 Retail’s business has gone from strength to strength. In July 2014, the multi-channel technology solutions provider won the UK Microsoft Dynamics ISV of the Year award. Shortly after that, it gained —Microsoft global independent solution vendor (GISV) status, making it one of only 25 companies worldwide to do so, and the first Microsoft Dynamics AX GISV partner for the fashion sector to be invited to be part of the exclusive programme. According to Tony Bryant, who has recently been promoted to the role of strategic business development director at K3 Retail, the GISV accreditation couldn’t have come at a better time for the company. “This new status shows that Microsoft recognises our expertise and believes in the global potential of our product,” he says. K3’s ax|is fashion solution is already being adopted by a number of high-profile retailers, including Seasalt, Charles Tyrwhitt and Ted Baker. Now, with the GISV status under its belt, K3 is looking to bring the solution to more customers worldwide and serve retailers of all sizes – from enterprise to retail essentials. “We’re in the strongest position we’ve ever been to serve retailers end to end,” says Bryant. “Before, we largely covered the mid-market segment, but now we’re able to scale up to meet the demands of large, international, multi-faceted businesses or scale down to serve customers with a single store.” This extended scope aligns with the company’s new ‘One K3 Retail’ vision, which involves it pulling together all of its products, expertise, services and support across the group to become a global retail expert. “Our vision means we will have greater global penetration, a greater ability to support our customers, and more opportunities to drive efficiencies across our own business too,” says Bryant. K3 also has plans to develop further enriched solutions for other retail market segments. “We spent a lot of time and effort creating a seamless, end-to-end solution that is fit for fashion,” explains Bryant. “But we also realise that this functionality can be transferred to other niche verticals, so we are now exploring what the next global proposition is for the ‘ax|is’ journey, and assessing how our solution can help across the retail landscape with the initial focus on home/lifestyle, DIY and trade segments.” As the company continues to broaden its portfolio and its reach, Bryant is confident in K3’s ability to serve its customers better than ever before. “So far, we’ve succeeded in getting K3 recognised as the ‘go to’ retail partner in Microsoft and the partner community,” he explains. “Now, we’re in a strong position to grow our global presence and engage with even larger businesses. It’s a very exciting time for us.” | simon gordon | |
22/1/2015 12:37 | No mention of a new chairman in the TU............. now why would that be? | cloudwars | |
20/1/2015 20:05 | Edison - 20/1/15: K3 Business Technology is a research client of Edison Investment Research Limited Trading in H115 was in line with management expectations, with continued interest in K3’s new Microsoft Dynamics AX solution and improving demand for SYSPRO and Microsoft Dynamics NAV solutions. K3 continues to build its international reseller channel and in H115 saw the first sales of its new AX solution through this. We make no changes to estimates but highlight that if trading continues to be as strong in H2, there is scope for upgrades. Strong first half H115 trading was in line with management expectations. Revenues grew c 20% y-o-y, implying H115 revenues of c £41m, more than half our full-year revenue forecast of £79.7m. The company continues to make progress with direct sales of its new Microsoft Dynamics AX solution, and has made the first sales of this solution via its international reseller channel in Europe, Australasia and North America. K3 is also seeing improving sales of SYSPRO and Microsoft Dynamics NAV products, although demand from the Dutch retail market remains weak. The company did not quantify net debt at the end of H115, noting that, as expected, it benefited from SYSPRO licence renewals. Higher working capital to support strong period end sales should reverse in H2, depending on the timing of H2 sales. Developing product and reseller channel The company continues to focus on investing in AX product development, developing its SYSPRO business and expanding its international reseller channel (K3 was recently accredited as one of only 25 Microsoft global independent software vendors). The company expects to report H115 results in mid-March when it will change its divisional reporting to reflect the industry sectors in which it operates (retail, manufacturing and distribution) and global IP. We make no changes to estimates now but note that there is upgrade potential if trading continues to be as strong in H215. Valuation: Trading at a discount The stock is trading on a P/E of 10.3x FY15e, 8.3x FY16e and an EV/sales multiple of 1.0x FY15e. This is still at a material discount to its peers (sub-£500m market cap UK software current year P/E 21.3x, EV/sales 2.5x). With evidence of sustained demand for the new ax|is solution and continued debt reduction, we see scope for the share price to reduce the discount to peers. The wider global opportunity for ax|is could provide further upside potential in the longer term. | simon gordon | |
20/1/2015 19:46 | How right you were | johnoconnor28 | |
01/1/2015 13:46 | Hi APAD, I'm not currently in KBC. I was disorientated with Caroline Brown's departure, PS5 is a snail, then the oil price collapsed. The contract extension in Ecuador should get them closer to meeting the 2015 forecast. Defo keeping an eye on it. | simon gordon | |
31/12/2014 13:11 | Aye, I missed out on JDG (always knew it was flawed :-), currently missing out on Accumuli's potential for similar reasons. CARD looks attractive and KBT is still a candidate because of the catalyst and the breadth of the customer base. BTW did you get back into KBC? ("Don't remind me of….":-) apad | apad | |
31/12/2014 12:55 | APAD, Don't remind me of RNWH :-( I didn't like the balance sheet in the 80s so passed, since then it three bagged. RNWH had a good chart and weak looking balance sheet. KBT has a good chart with a potential catalyst - AX/IS - that could turbo boost the story and share price. So I'm not getting too focused on the financials as they currently stand. | simon gordon | |
31/12/2014 12:41 | I was going to buy but then I read p scotts analysis :0| hxxp://www.stockoped | solooiler | |
31/12/2014 12:35 | Yup, that makes sense. They look to be in a good spot regards the market, and have loads of customers. I always freak out when current assets don't exceed current liabilities so tend to miss trading strategies, although I will take small fliers on technology that I understand. Not as scary as RNWH though. Have a good 2015. apad | apad | |
31/12/2014 12:24 | APAD, I'm trading this primarily on the chart. If growth accelerates the balance sheet should get stronger, especially if they have pricing power. It doesn't look dire, always better to see net cash, it's easy to pick stop loss points on the chart, so I'm using them as my get out. Trading statement c.20th January. | simon gordon | |
31/12/2014 12:02 | SG Do you have any balance sheet concerns about this company? apad | apad | |
31/12/2014 11:49 | Morningstar Video - 4/12/14: Holly Cook: Hello and welcome to the Morningstar series, 'Three Stock Tips.' I'm Holly Cook and joining me today is Gervais Williams, Manager of the Miton UK Smaller Companies Fund. Gervais, thanks for joining me. So, we're talking here about three stock tips. Why don't we just jump in there? Give me your first interesting stock tip. Gervais Williams: Yeah. So, the one which we've been excited by recently is a company called K3 Business Systems (KBT). It's a software business. It's involved in delivering software which is particularly to do with logistics, and also various manufacturing and other areas, but the area which is exciting at the moment is retail, logistics for the retailers. It's an area where there is a real shortage of products in this area. This company has actually just recently introduced some new software on the Microsoft AX Dynamics platform and they can't keep up with demand. There is that much demand for their product. Great news for them. It means they can get good price. They can roll out increased sales. It's a recovery stock, so it's come up from £1 already to about £2.20 which where it is now. It's only a £62 million company and we think the share price could still go considerably further from here. Cook: So, too much demand is a nice problem to have, but what would be the sort of associated risks that you would warn investors about in this case? Williams: Well, one of the problems is, of course, it can struggle to get staff and that is a feature for them, to recruit staff with AX skills and they've had some of their staff poached by other people. That's a negative. The company itself has about £10 million of debt. Clearly, it's not risk-free from that point of view. But overall, I mean, it's an unusual position when you're absolutely flat out. So, hopefully, most of those risks are more than compensated by the revenue you get from your customers. | simon gordon | |
30/12/2014 17:46 | Dammit, I wish they wouldn't tip shares on my watch list! apad | apad | |
30/12/2014 17:12 | Many thanks | gargleblaster | |
29/12/2014 00:48 | tt - have you got a link related to that | gargleblaster | |
27/12/2014 10:51 | No1 tip of the year 2015 by Steve Moore. | toby tots | |
30/11/2014 15:23 | Gervais Williams likes KBT ! The second stock nominated by Williams is computer software business K3 Business Systems. This company recorded a profit of £1.88m on turnover of £71.95m for the year to 30 June 2014. The company trades on a price-to-earnings ratio of 11.3, which is considerably below the average for the FTSE 100, FTSE 250 and AIM markets. Williams remarked, "This is a company that makes software for logistics and transport companies. It cannot keep up with demand for its current range of products, and Microsoft has recently asked that its own sales team be allowed to sell the product in the US." This company has a market capitalisation of £70m. | masurenguy | |
16/9/2014 14:58 | Tipped by Simon Thompson in Investors Chronicle online today 'Offering 25 per cent upside to my six-month target price of 275p, I rate K3's shares a strong buy...' | captainhindsight | |
22/5/2014 06:15 | Any holders/lurkers may be interested in the article on Page 5 of the excellent "AIM prospector" concerning KBT which sums up the investment case very succinctly. Regards, GHF | glasshalfull |
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