K3 Capital Group PLC - Bolton, England-based professional advisory services firm - Says it generated a pretax profit of GBP5.2 million in the six months to November 30, more than doubled from GBP2.0 million a year before.
This was on revenue of GBP31.2 million, a sharp 73% increase from GBP18.0 million a year ago.
Explains that this was driven by "strong" organic growth and notes that all divisions reported increased revenue and profit. Furthermore, it completed the acquisitions of Knight Corporate Finance and Knight Research & Development in the period, which were immediately earnings enhancing.
Declares interim dividend of 4.0 pence, up 33% from 3.0p a year prior.
Remains confident that the outlook for the remainder of the financial year will be positive and notes a "strong" start to the second half.
"I am delighted to report that both myself and the board are extremely satisfied with a strong financial performance during the first half of the year, with trading comfortably in line with market expectations," Chief Executive John Rigby says.
"The board remains confident that the outlook for the remainder of the financial year, and beyond, is positive and is pleased to report a strong start to the second half, with December delivering GBP6 million of revenue and GBP1.7 million earnings before interest, tax, depreciation, and amortization during a traditionally quieter festive period. "
Current stock price: 339.00 pence, up 2.7% on Monday
Year-to-date change: up 23%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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