(Alliance News) - K3 Capital Group PLC on Tuesday raised its dividend by almost 3% following double-digit revenue growth in the first half of its financial year.
The brokerage and corporate finance company reported pretax profit growth of 6.7% in the six months to the end of November 2019 to GBP3.3 million compared to GBP3.1 million a year earlier, as revenue rose by 11% to GBP8.0 million from GBP7.2 million.
"In the context of a difficult market backdrop of political and economic uncertainty, we completed more transactions than ever before," noted Chief Executive John Rigby.
K3 Capital recorded a 20% increase in transaction fee income, driven by a 35% increase in the volume of transactions completed in the first half.
The AIM-listed company declared an interim payout of 3.70 pence a share, up from 3.60p paid the year before.
Looking ahead, Rigby added: "The improving performance across these key performance indicators, a stabilising political and economic environment, coupled with the robust deal pipelines that exist across all three trading brands, lead us to a confident outlook for both the full financial year 2020 and beyond."
K3 Capital shares were trading 3.8% lower in London on Tuesday at 238.50p each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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