16th Feb 2021 10:13
(Alliance News) - K3 Capital Group PLC on Tuesday declared a reduced dividend for the first half of its current financial year despite strong revenue growth.
The professional services firm reported revenue for the six months to the end of November of GBP17.8 million, more than doubled compared to GBP8.0 million reported a year earlier, with first-time contribution from acquisitions randd and Quantuma.
"Trading was ahead of management's expectations which is particularly impressive considering it was achieved against a backdrop of unprecedented challenges presented by the global pandemic, not least the multiple national and regional lockdowns," said Chief Executive John Rigby.
K3 Capital declared an interim dividend per share of 3.0 pence, down 19% from the 3.7p per share payout a year before.
Pretax profit for the half-year totalled GBP3.0 million, slightly below the prior year's GBP3.3 million.
"With the benefit of our strong financial position and platform, we intend to continue to build a significant group of complementary professional services businesses servicing UK small and medium sized enterprises', both organically and through acquisition. We remain confident in our outlook for the current and future years," added Rigby.
K3 Capital shares were trading 4.0% lower in London on Tuesday at 265.00p each.
By Evelina Grecenko; [email protected]
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