K3 warns pre-tax profits will be below market forecasts

AIM-listed software firm K3 Business Technology Group expects to generate pre-tax profits below current market forecasts, according to trading update for the financial year ending June 30th 2013.In a statement issued Friday morning, the company, which provides Enterprise Resource Planning software to the supply chain industry, reported that it will "generate pre-tax profits below current market forecasts".It stated that this was due to the deferral in signing certain retail deals and investment in the group's Microsoft AX offering. Outside of the retail space, the board said it was pleased with the performance of the group.The group is in the process of creating a new retail solution built around Microsoft's latest AX technology. The company stated that developing 'IP' and global channels to market, together with Managed Services, would help to drive K3's medium and long term growth and was expected to yield significant returns in the future.MF