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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 | 2,000 | 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 |
TIDMKBT
RNS Number : 6019K
K3 Business Technology Group PLC
17 December 2018
AIM: KBT
K3 BUSINESS TECHNOLOGY GROUP PLC
("K3" or "the Group" or "the Company")
Trading Update
K3, which provides mission--critical business software, cloud solutions and managed services to the retail, manufacturing and distribution sectors, is pleased to provide an update on trading for the financial year to 30 November 2018.
The benefits of the changes made to reposition the Group for a return to profitable growth continue to flow through. Trading in the second half of the financial year has been encouraging and the Board expects to report full year results that are slightly ahead of market expectations. This includes a reduction in the Group's net debt position at the year end to approximately GBP0.7m (30 November 2017: net debt of GBP4.3m). This improvement reflects the reduced cost base and better working capital management.
K3 is focused on increasing sales of its own IP, and new business wins for K3 fashion (formerly "ax l is fashion") continue to be at encouraging levels. These included major agreements with Oberalp Group, the European sports clothing and equipment manufacturer and retailer, and Columbia Sportswear, the US-based manufacturer and distributor of outdoor apparel and products.
We are excited about the future for K3 Imagine, the class-leading cloud native product that offers customers a scalable platform and easy-to-integrate point solutions. K3 Imagine is a cornerstone in K3's strategic transition to an IP-led organisation and has continued to gain traction, with several projects now underway both with existing and new customers.
The Board continues to view prospects for progress positively and will provide a further update on trading with final results, which are expected to be issued in mid-March 2019
Enquiries:
K3 Business Technology Adalsteinn Valdimarsson T: 020 3178 6378 Group plc (CEO) (today) www.k3btg.com Robert Price (CFO) Thereafter: 0161 876 4498 finnCap Limited Julian Blunt / James T: 020 7220 0500 Thompson (Nominated Adviser and Camille Gochez (Corporate Broker) broking) KTZ Communications Katie Tzouliadis / T: 020 3178 6378 Emma Pearson / Dan Mahoney
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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(END) Dow Jones Newswires
December 17, 2018 02:00 ET (07:00 GMT)
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