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 0.0% 117.00 114.00 120.00 117.00 117.00 117.00 14,304 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 78.4 -14.5 -36.0 - 37

K3 Business Technology Group PLC Trading Update

02/11/2020 7:00am

UK Regulatory (RNS & others)

K3 Business Technology (LSE:KBT)
Historical Stock Chart

From Oct 2020 to Jan 2021

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RNS Number : 8370D

K3 Business Technology Group PLC

02 November 2020

2 November 2020


("K3" or "the Company" or "the Group")


K3, which provides mission--critical business software, cloud solutions and managed services, is pleased to provide the following trading update.

Trading in the second half of the financial year to 30 November 2020, seasonally the Company's stronger half, has continued to be in line with the second quarter and management expectations, with the own IP and Global Accounts businesses showing particular resilience. October is an important month for annual software licence and maintenance contract renewals, and these have progressed well with renewal rates tracking at normal high levels.

Management continues to focus strategically on the significant opportunity to expand own IP sales, particularly of the K3|imagine platform and has made a number of new appointments to strengthen the senior team. The Board is also actively exploring a range of options to simplify the Group structure.

As previously announced, management expected net bank debt (drawdown plus cash balances net of overdrafts) to be GBP6.0m at the end of September, historically the point of peak borrowing for the Company. Actual net bank debt at 30 September 2020 was GBP6.2m, and cash balances since then have grown strongly with annual renewal receipts.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.


 K3 Business Technology   Adalsteinn Valdimarsson,        T: 0161 876 
  Group plc                CEO                                   4498 
                           Rob Price, CFO 
 finnCap Limited (NOMAD   Julian Blunt/ James Thompson    T: 020 7220 
  & Broker)                (Corporate Finance)                   0500 
                           Richard Chambers (Corporate 
 KTZ Communications       Katie Tzouliadis/ Dan Mahoney   T: 020 3178 

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(END) Dow Jones Newswires

November 02, 2020 02:00 ET (07:00 GMT)

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