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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% | 103.50 | 102.00 | 105.00 | 103.50 | 103.50 | 103.50 | 0.00 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Fabricated Rubber Pds, Nec | 47.48M | -3.98M | -0.0902 | -11.47 | 45.63M |
TIDMKBT
RNS Number : 7340T
K3 Business Technology Group PLC
10 January 2017
AIM: KBT
K3 Business Technology Group plc
("K3")
Trading Update
K3, which provides mission-critical software, cloud solutions and managed services to the retail, manufacturing and distribution sectors, provides a trading update for the first six months of the current financial year.
K3 has made important progress over the first half in its operational reorganisation. However, trading in December, a key selling period, has not been as strong as expected, reflecting a softening in market conditions. Given the lengthening sales cycles around larger deals and the accelerating industry shift to cloud-based consumption, management now believes it prudent to expect that EBITDA (pre-exceptional items) for the full year will be approximately GBP3.5m less than the originally anticipated.
The operational reorganisation, announced in the autumn, is largely complete and has established a more unified and streamlined operating structure across the Group. This will enhance sales opportunities and deliver cost efficiencies. The associated exceptional costs are expected to amount to approximately GBP3.0m, with the annualised future benefit likely to exceed GBP3.0m. The Board will continue to look for additional efficiencies.
The Board views K3's prospects positively, supported by the pipeline of opportunities and the benefits expected to flow from the reorganisation. The quality of the Group's earnings continues to improve as a result of the increasing adoption of cloud-based consumption and the ongoing own IP strategy, with recurring revenues remaining high. Cash conversion is also expected to increase through further improvements in working capital management.
The Board intends to issue half year results towards the end of March.
Enquiries:
K3 Business David Bolton, Chairman T: 0161 876 4498 Technology Adalsteinn Valdimarsson, Group plc Chief Executive finnCap Limited Julian Blunt/James T: 020 7220 0500 (NOMAD & Broker) Thompson KTZ Communications Katie Tzouliadis/Emma T: 020 3178 6378 Pearson
This information is provided by RNS
The company news service from the London Stock Exchange
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(END) Dow Jones Newswires
January 10, 2017 02:00 ET (07:00 GMT)
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