4th Mar 2021 07:00
K3 CAPITAL GROUP PLC
("K3", the "Company" and including its subsidiaries the "Group")
Trading Update
K3 Capital Group plc, a multi-disciplinary professional services firm providing advisory services to SMEs, is pleased to provide an update on trading as we enter the fourth quarter of our current financial year.
Following a robust financial and operational performance in H1, the Group has had a strong start to H2, trading ahead of expectations. Accordingly, we now anticipate revenue for the year ended 31 May 2021 to be significantly ahead of consensus market expectations, with Adjusted EBITDA* of no less than £12 million.
All business divisions have performed well, with a particularly strong performance by KBS, driven by a large volume of transactions. The recent acquisitions of inTax and Aspect Plus, as well as lateral hires, have also already made positive contributions in the period.
We expect to see continued strong performance across the Group for the remainder of the financial year.
* Adjusted EBITDA is earnings before interest, tax, depreciation and amortisation, stated before acquisition related costs and share based payment charges.
John Rigby, K3's CEO, commented,
"The Group's excellent performance during the global pandemic is testament to the resilience and determination of our teams. This trading performance also provides further validation of our strategy, with the Group's diversified revenue streams providing us better visibility than ever before on future trading. Whilst all divisions have performed well, we are particularly pleased with the large volume of transactions, across our M&A division, in line with our ongoing 'bigger and better' strategy.
Notwithstanding the ongoing challenging external environment, we expect to see continued strong performance across each of our business divisions. Our pipeline remains strong for the remainder of FY21 and we are confident of making further progress in the current financial year."
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU No. 596/2014) which is part of UK law by virtue of the European Union (withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
For further information, please contact:
K3 Capital Group plc | Tel: c/o finnCap 020 7220 0500 |
John Rigby, Chief Executive Officer | www.k3capitalgroupplc.com |
Andrew Melbourne, Chief Financial Officer | |
finnCap Ltd (Nominated Adviser and Joint Broker) | Tel: 020 7220 0500 |
Jonny Franklin-Adams, Emily Watts, Charlie Beeson (Corporate Finance) | |
Tim Redfern, Richard Chambers (Corporate Broking)
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Canaccord Genuity Limited (Joint Broker) | Tel: 020 7523 8000 |
Bobbie Hilliam (Corporate Broking) Alex Aylen (Head of Equities) | |
About K3 Capital
K3 Capital Group plc is a multi-disciplinary professional services firm providing advisory services to SMEs, with operations throughout the UK and overseas.
Services provided by KBS Corporate, KBS Corporate Finance, Knightsbridge and KBS Capital Markets:
· Mergers and Acquisitions (M&A) - Company sales, brokerage and corporate finance services to SME's looking to achieve full or partial exit, advising on sales to private, trade, plc, private equity or overseas acquirors. Strategic advisory and valuations, financial due diligence and debt advisory.
Services provided by RandD UK Limited:
· Research & Development tax credit advisory: advising clients on Research and Development Tax Credit (RDTC) claims.
Services provided by Quantuma Advisory Limited:
· Restructuring advisory: formal insolvency appointments, informal restructuring advisory, personal insolvency and pension restructuring and insolvency advice.
· Financial advisory: comprehensive analysis of business performance through business toolkit, independent reviews, stakeholder management and turnaround and interim support.
· Creditor Services: creditor representation and liquidations.
· Forensic accounting and expert witness: forensic investigations, intelligence and forensic accounting.
· Pensions advisory: corporate and trustee advisory, pension scheme restructuring advisory, covenant advisory and expert witness.
The Group's medium-term strategy is to build a wider group of growing and complementary professional services businesses to provide SME's with high quality advice across specialist disciplines.
K3 Capital Group trades on the London Stock Exchange (AIM: K3C.L), having listed on 11 April 2017. Please visit www.k3capitalgroupplc.com for more information.
Related Shares:
K3C.L