(Alliance News) - Shares in K3 Capital rose on Wednesday after it said it expects revenue for 2021 to triple.
Professional services firm K3 said it anticipates results for the year to May 31 to be "significantly ahead of revised consensus market expectations", with revenue expected in the region of GBP45 million, tripling from GBP15.0 million the previous year.
Bolton-based K3 said it expects adjusted earnings before interest, tax, depreciation and amortisation of no less than GBP13.3 million.
Shares in K3 were trading 11% higher at 348.00 pence in London on Wednesday.
"The group has continued to perform strongly in March and April, surpassing our expectations and resulting in a further earnings upgrade," said K3 Chief Executive John Rigby.
"We continue to pursue our strategic goal of building a wider group of growing and complementary professional services businesses and look forward to providing the market with an update on our progress in due course."
By Will Paige; willpaige@alliancenews.com
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