AGM Statement

RNS Number : 6001P

K3 Business Technology Group PLC

30 May 2018

 

AIM: KBT

30 May 2018

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

K3 BUSINESS TECHNOLOGY GROUP PLC

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

Provider of mission-critical software (owned and third party), cloud solutions and managed services to the supply chain sector

AGM Statement

K3, which provides mission‐critical software, cloud solutions and managed services to the supply chain sector, will be holding its Annual General Meeting today and Chairman, Stuart Darling, will make the following comment on current trading:

"We are pleased to confirm that trading in the first half of the financial year to 30 November 2018 is in line with management expectations, with the measures taken to improve K3's operational performance and place the Group on a better footing for profitable growth yielding encouraging results.

"As previously reported, driving sales of software and solutions based on K3's intellectual property ("IP") is central to our growth strategy, and will benefit recurring revenues and margins.  Sales of 'ax I is fashion' showed a significant upturn on FY17 and there is a good pipeline for H2. Pebblestone, our product for the mid-market fashion industry, continued to perform well. Imagine, our cloud-native platform that enables customers to adopt innovative technology rapidly without replacing existing core systems, signed its largest customer contract to date, with Ossur, a global manufacturer of prosthetic limbs. While Imagine sales are a relatively small contributor currently, this product remains at the forefront of our IP growth strategy. 

"The Group's performance across other areas of activities has also been encouraging.  Global Accounts, which is based on our relationship with Inter IKEA System B.V and the Inter IKEA Concept franchisees, offers strong growth opportunities in new markets.  Deal closures in our Dynamics practice is promising and our Sage practice signed Manx Telecom Plc as a new Sage X3 customer.

"The Board remains very encouraged about the outlook for K3 in the second half of the financial year, and will provide a further update with the interim results."

Enquiries:

K3 Business Technology Group plc	Adalsteinn  Valdimarsson (CEO)	T: 020 3178 6378 (today)
www.k3btg.com	Robert Price (CFO)	Thereafter 0161 876 4498
finnCap Limited	Julian Blunt/ James Thompson	T: 020 7220 0500
(NOMAD)
KTZ Communications	Katie Tzouliadis/ Emma Pearson	T: 020 3178 6378

 

END

 

 

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