K3C.L Share News (K3C)

(Sharecast News) - K3 Capital reported a year of "significant growth" on Tuesday, with the Bolton-based business broker's revenues and profits both coming in well ahead of the year before.The business sales and brokerage business drove group revenues 53% higher to £16.5m thanks to the introduction of new technologies and systems, while volumes of larger and more profitable mandates also increased. This helped EBITDA jump 64% to £7.4m, pre-tax profits double to £7.3m and earnings per share rocket 114% to 14.10p.Net cash at the year-end stood at £7.5m, an increase of 121% year-on-year.Throughout the year, K3, which listed on AIM in April 2017, invested in both its salespeople and its direct marketing approach, culminating in 15% more client mandates during 2018 than the previous year and an increase of more than a third in non-contingent fee income.K3 styles itself as a "disruptive innovator within the business and company sales marketplace", helping clients with the presentation of their businesses for sale to market, sourcing potential acquirers, and project management of transactions to completion.The board recommended a final dividend payment of 8.4p per share, making a total dividend of 11.25p for the year, a 56% increase.Looking forward, K3 said all three of its brands had started the year strong and that the group as a whole was trading ahead of market expectations, with strong pipelines in place.Chairman Ian Mattioli said: "We are continuing to work hard to deliver additional improvements to the technology and systems which were launched in FY18, which will continue to enhance and partially automate business processes. This will drive further operational efficiencies and we remain excited by the prospects that this offers the group."As of 1040 BST, K3 shares had shot up 14.98% to 376p.