17th Mar 2014 11:33
LONDON (Alliance News) - K3 Business Technology Group PLC saw pretax profit rise in the half-year ended December 31, 2013, as revenue was boosted by order wins and its new 'ax|is fashion' product.
K3 posted a pretax profit of GBP875,000, up from GBP185,000 in the previous year, as revenue rose to GBP34.5 million from GBP31.5 million, as revenues in the company's Microsoft UK division was boosted by new order wins, particularly for ax|is fashion.
The company's Managed Services returned to profit as revenue rose to GBP3.9 million from GBP3.4 million, and it lowered operating costs.
Revenue in the company's SysPro and Sage division dropped slightly to GBP14.1 million from GBP14.6 million, due to the disposal of a non-core Sage business in May 2013.
The company did not propose an interim dividend, it also did not propose an interim dividend in the previous year.
K3 said its investments over the last year and a half in Microsoft technology are beginning to yield benefits. The company said that the continuing momentum of its UK division and sales of the ax|is product, combined with the improving performance of its Managed Services division, helped to underpin its forecast results for the full-year.
The company announced investment plans to support wider growth opportunities over a three to five year time-scale. The company will further invest in software development in the second half of the year to widen its channel to market for the sale of ax|is internationally.
Shares in K3 were trading up 6.6% at 193.00 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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