14th Jul 2014 08:43
LONDON (Alliance News) - K3 Business Technology Group PLC Monday said it will meet market expectations for the full-year, as its trading in the second-half to end-June was good.
The software, hosting and managed services company said it had seen continued momentum in the second-half in its Microsoft Corp based operations. Particularly, demand for its K3's new retail product 'ax|is' has been "extremely encouraging" and it has signed further new orders for it.
It has continued to invest in additional software development and resources for Microsoft's Dynamic AX product. The company said it has continued to see support from Microsoft.
Outside of its Microsoft-based operations, its operating divisions also saw year-on-year progress, K3 said.
It expects to post recurring income ahead of the previous year. Net debt as at June 30 is expected to be around GBP13.6 million, down from GBP13.8 million, as it saw high levels of trading in its final quarter, invested in product development and moved to a new organisational structure.
Its net debt position will reduce in the first half of the new financial year to be in line with historic patterns, K3 said.
It will release its full-year results in mid September.
Shares in K3 were trading up 3.1% at 216.00 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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