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14 Jun 2017 07:00
K3 CAPITAL GROUP PLC
("K3", the "Company" and including its subsidiaries, the "Group")
Pre-close trading update and notice of results
K3 Capital Group plc, a leading business and company sales specialist in the UK, today announces its pre-close trading update ahead of final results for the year ended 31 May 2017 (the "Period").
K3's strong performance has continued across the Group resulting in significant revenue growth and strengthening underlying Normalised* EBITDA when compared to the prior year. As a result, the Board anticipates reporting revenue and Normalised* EBITDA for the Period comfortably in line with market expectations.
The strong performance has been driven by continued growth across each of the subsidiaries, KBS Corporate, KBS Corporate Finance and Knightsbridge. The Group has maintained its growing momentum and reputation as a leading business and company sales specialist in the UK, winning an increasing number of client mandates at higher average transaction fee values across the Group, compared with prior periods.
John Rigby, CEO of K3 commented:
"We are delighted to update our shareholders on a record year for K3, which included our successful IPO completed on 11th April 2017.
"The Group's strong operational momentum has continued since the IPO and the Board expects to report revenue and Normalised* EBITDA comfortably in line with expectations, further demonstrating the strength of K3's disruptive business model. We have a significant pipeline of opportunities and we remain optimistic that we will continue to deliver growth against our core KPIs over the coming year and beyond."
* Normalised (unaudited) reflects the illustrative historical cost savings of having Triskell and KBS CF personnel as employees of the Group and is stated before non-recurring exceptional expenses incurred during the Period.
Notice of results
The Group will announce its audited final results for the year ended 31 May 2017 on 11 September 2017.
This announcement contains inside information. The person responsible for arranging the release of this announcement on behalf of the Company is Andrew Melbourne, Chief Financial Officer & Company Secretary.
For further information please contact:
K3 Capital Group plc | Tel: c/o Newgate 020 7680 6550 |
John Rigby, Chief Executive Officer | www.k3capitalgroupplc.com |
Andrew Melbourne, Chief Financial Officer | |
finnCap Ltd (Nominated Adviser and Sole Broker) | Tel: 020 7220 0500 |
Jonny Franklin-Adams, Emily Watts, Anthony Adams (Corporate Finance) | |
Tim Redfern, Richard Chambers (Corporate Broking) | |
Newgate Communications Ltd (Financial PR) | Tel: 020 7680 6550 |
Alistair Kellie, Zoë Pocock, James Ash | k3capital@newgatecomms.com |
About K3 Capital
K3 Capital Group plc is a leading business sales and brokerage firm headquartered in Bolton with operations throughout the UK. It acts for vendors of businesses from c. £50,000 to c. £50 million through its three trading subsidiaries Knightsbridge, KBS Corporate, and KBS Corporate Finance.
K3 Capital operates a disruptive business model with a direct marketing approach to client acquisition, using incentivised and experienced salespeople rather than advisory teams, while its highly visible online presence and proprietary online business valuation portal generates further leads. This innovative model, combined with a continuing strategy towards targeting higher value clients, are key drivers for growth and profitability.
The Group also offers all clients fully contingent and inclusive legal fees through its partner relationship with Gateley.
K3 Capital Group trades on the London Stock Exchange (AIM: K3C.L), having listed on 11 April 2017.
Please visit www.k3capitalgroupplc.com for more information.
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