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14 Apr 2021 07:00
K3 CAPITAL GROUP PLC
("K3", the "Company" and including its subsidiaries the "Group")
Trading Update
K3 Capital Group plc, a multi-disciplinary professional services firm providing advisory services to SMEs, is pleased to provide a further update on the Group's trading for the current financial year ending 31 May 2021.
In the trading update dated 4 March 2021, it was stated that following a strong start to H2 the Group was trading ahead of expectations. We are pleased to report that this trend has continued, with all business divisions having continued to perform well, with a particularly strong performance by KBS. As a result, we now anticipate the result for the year ending 31 May 2021 to be significantly ahead of revised consensus market expectations, with revenue expected to be in the region of £45 million and Adjusted EBITDA* of no less than £13.25 million.
* Adjusted EBITDA is earnings before interest, tax, depreciation and amortisation, stated before acquisition related costs and share based payment charges.
John Rigby, K3's CEO, commented,
"The Group has continued to perform strongly in March and April, surpassing our expectations and resulting in a further earnings upgrade.
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."
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU No. 596/2014) which is part of UK law by virtue of the European Union (withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
For further information, please contact:
K3 Capital Group plc | Tel: c/o finnCap 020 7220 0500 |
John Rigby, Chief Executive Officer | www.k3capitalgroupplc.com |
Andrew Melbourne, Chief Financial Officer | |
finnCap Ltd (Nominated Adviser and Joint Broker) | Tel: 020 7220 0500 |
Jonny Franklin-Adams, Emily Watts, Charlie Beeson (Corporate Finance) | |
Tim Redfern, Richard Chambers (Corporate Broking)
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Canaccord Genuity Limited (Joint Broker) | Tel: 020 7523 8000 |
Bobbie Hilliam (Corporate Broking) Alex Aylen (Head of Equities) | |
About K3 Capital
K3 Capital Group plc is a multi-disciplinary professional services firm providing advisory services to SMEs, with operations throughout the UK and overseas.
Services provided by KBS Corporate, KBS Corporate Finance, Knightsbridge and KBS Capital Markets:
· Mergers and Acquisitions (M&A) - Company sales, brokerage and corporate finance services to SME's looking to achieve full or partial exit, advising on sales to private, trade, plc, private equity or overseas acquirors. Strategic advisory and valuations, financial due diligence and debt advisory.
Services provided by RandD UK Limited:
· Research & Development tax credit advisory: advising clients on Research and Development Tax Credit (RDTC) claims.
Services provided by Quantuma Advisory Limited:
· Restructuring advisory: formal insolvency appointments, informal restructuring advisory, personal insolvency and pension restructuring and insolvency advice.
· Financial advisory: comprehensive analysis of business performance through business toolkit, independent reviews, stakeholder management and turnaround and interim support.
· Creditor Services: creditor representation and liquidations.
· Forensic accounting and expert witness: forensic investigations, intelligence and forensic accounting.
· Pensions advisory: corporate and trustee advisory, pension scheme restructuring advisory, covenant advisory and expert witness.
The Group's medium-term strategy is to build a wider group of growing and complementary professional services businesses to provide SME's with high quality advice across specialist disciplines.
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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