K3 Capital Reports "Solid" First Half Despite Economic Uncertainties

(Alliance News) - K3 Capital Group PLC on Monday expressed confidence for future after predicting a record performance in the first half of its current financial year.

K3 Capital shares were 17% higher in London in morning trade at 205.00 pence a share.

The brokerage and corporate finance company said it has achieved double-digit revenue growth in the six months to the end of November and an increase in earnings before interest, taxes, depreciation, and amortization.

During the first half, the company said it has seen a record number of completed transactions, up 30% year-on-year, with the growth primarily driven from its volume brands, Knightsbridge and KBS Corporate.

Looking ahead, K3 Capital said it enters its second half with the momentum of a record number of opportunities within its work-in-progress pipeline, which carries strong transaction fee values.

"We are pleased to report another very solid first-half performance with more transactions completed during the first half than ever before, a particularly encouraging performance in the context of the difficult market backdrop of political and economic uncertainty," said Chief Executive John Rigby.

He added: "This growth is further backed up by a record number of deals in the pipeline that underpins our confidence of continued growth in the second half of financial 2020 and beyond."

K3 Capital is slated to report its interim results on February 4, 2020.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

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