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 Shares Traded Last Trade
  10.00 10.99% 101.00 16,207 16:46:21
Bid Price Offer Price High Price Low Price Open Price
101.00 104.00 104.50 91.00 91.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 78.41 -14.52 -36.00 32
Last Trade Time Trade Type Trade Size Trade Price Currency
16:46:21 UT 3,516 101.00 GBX

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K3 Business Technology Daily Update: K3 Business Technology Group Plc is listed in the Software & Computer Services sector of the London Stock Exchange with ticker KBT. The last closing price for K3 Business Technology was 91p.
K3 Business Technology Group Plc has a 4 week average price of 64p and a 12 week average price of 64p.
The 1 year high share price is 216p while the 1 year low share price is currently 64p.
There are currently 31,794,497 shares in issue and the average daily traded volume is 20,972 shares. The market capitalisation of K3 Business Technology Group Plc is £32,112,441.97.
noble3r: Latest IC comment: It was difficult not to be impressed by the full-year results performance from retail software company K3 Business Technology (KBT:350p), the Salford-based supplier of software to the retail, manufacturing and logistics sectors and provider of managed IT and web-hosting services. The fact that its share price is making headway back towards last autumn's 19-year high of 377p tells a story in itself. It's a company I know well, having advised buying at 220p a couple of years ago ('Tapping into retail growth', 16 Sep 2014), and last reiterated that advice at 337p ('On the acquisition trail', 5 Jul 2016). The key takes for me were growth in sales of K3's higher margin own intellectual property software which now accounts for 25 per cent of the mix and generates a gross margin of 66 per cent; a channel partner network that is clearly gaining traction; and a pipeline of new business which is up 23 per cent to £76m year-on-year. New orders hit a record of £35.3m and helped drive revenues ahead by 7 per cent to £89m in the 12 months to end June 2016. But it's the nature of the new business being won which resulted in both adjusted pre-tax profit and EPS shooting up by more than a fifth to £8.8m and 23.5p, respectively. The fact that K3 hit forecasts even though it was hit by an £830,000 write-down after a client went into administration says much about the resilience of the business too. In the 12-month period, K3's software license sales increased by 17 per cent to £16.2m, helped by a contribution from the retail segment and its "ax I is fashion" offering. Leading European mail order fashion retailer, TriStyle Mode GmbH was a notable client win as were Lacoste and KLiNGEL, just two of 27 customers signed up through K3's channel partner network. Acquisitions will contribute to another year of growth too. For instance, K3 recently acquired Merac, the author of an electronic point-of-sale and management system for the visitor attractions and leisure sector. It was an earnings accretive deal as K3 has acquired a business that makes annual pre-tax profits of £330,000 on revenue of £1.27m for a cash consideration of £1.4m. It also adds substance to analyst forecasts that K3 can lift EPS by 11 per cent to 26p in the 12 months to end June 2017, a performance that would easily justify another hike in the payout per share to 2p. The payout was lifted by 16 per cent to 1.75p in the year just ended, a reflection of the cash generative nature of the business. Analysts believe K3 should be able to report free cash flow of £6m in the current financial year after factoring in capital expenditure north of £5m. This means that even after raising the dividend again the company should be able to cut net debt in half to £4.6m by June 2017. Gearing is only 12 per cent of shareholders funds, so there is scope for more acquisitions too. So, with the outlook positive, and K3 well funded, I have no hesitation reiterating my buy advice. On 13.5 times forward earnings, and offering decent upside to my 425p target price, K3's shares are a decent buy at 350p.
simon gordon: 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: 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: 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. Http://
10:22 What's going on now then? I realise it's always been very erratic. Ceo left a fortnight ago: LONDON (Alliance News) - K3 Business Technology Group PLC Monday said Chief Executive Andy Makeham is leaving to pursue other interests after nearly 14 years at the helm and will be replaced by Chief Financial Officer David Bolton, who has held that role for over 15 years. In a statement, the company said Head of Finance Brian David will become its new CFO. "As reported in the recent trading update, K3 is on course to a return to revenue and profits growth, driven by the launch of a major new Microsoft Dynamics solution and I wish the Company every future success," Makeham said Share price up strongly today - up 35% from low of 5 weeks ago. Up 95% from the low of last March. EDISON posted their analysis 3 weeks ago:
snatander: "...The short term trading environment remains tough with customers continuing to defer spending decisions. Against this, our pipeline is strong, with a number of key deals whose successful closure will help to realise market expectations for the year." just reread it and now understand the share price plunging as it is stopping just short of a profit warning
dpmcq: Completely agree Stegrego, if not one bidder was anywhere near then it should not have dragged on so long. Looked like as the share price slipped opertunistic approached took place. As soon as the price recovered to a sensible level the bidder ran for the hills. The good news is a good set of results and a low pe and a risind dividened.
glasshalfull: KBT As per Orange1's post above, it would appear that we can expect an announcement in the next few weeks in respect of the ongoing bid saga. My assumption is that there is a strong possibility of an agreed  deal taking place & my logic is simply that we have now had the passage of 4 full months since they announced receipt of "a number of indicative bids", and surely if parties were miles apart we'd have received notice of termination well before now. Management have required to consider the strategic direction/offers for the company since RNS announcement of 1st Dec 2011, and I'm quite certain that in the absence of news to the contrary we must be close to a resolution. The fact that they documented receipt of a number of bids "materially higher" than the shareprice on 29th Feb 2012 (which stood at 154p mid) and is only 8% higher today, suggests to me that this is a decent risk/reward play at present time. Sure, should an acceptable bid fail to materialise then these will come off. As mentioned, they were 154p prior to the latest bid announcement and I'm sure failure would knock them back further, but I'd counter this would be on the back of short term sentiment as the underlying business and prospect of 28p EPS would hopefully see recovery in due course as the latter 6 "opportune" acquisitions start delivering. However, what is the liklihood of an acceptable bid and at what price?  Market cap is £47.7m (at 167.5p) and add back net debt of £13.3m for EV of £61m. This is for a company forecast to deliver in excess of £10m PTP (via consensus of 4 brokers) and EPS of 28p for year just ending 30th June 2012 & with 30p EPS pencilled in for the year beginning next week. I therefore think that they should command a minimum EV of  £80m which given shares in issue suggests a minimum price of 233p which would place then on a takeout PER of 8 or 40% premium to current share price. Given my assumptions and calcs I'm a keen buyer at the current price. Regards, GHF
philo124: Good outlook; 215p before the end of the month would be good. How crazy was 120p share price!
orange1: It appears that it is that very speculation, that KBT will now be able to buy Maxima on the cheap and as a result double its turnover, which is driving the KBT share price up at the moment.
K3 Business Technology share price data is direct from the London Stock Exchange
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