26 May 2010 07:00
AIM:KBT
26 May 2010
K3 BUSINESS TECHNOLOGY GROUP PLC
("K3" or "the Group")
AGM Statement
K3, which provides Enterprise Resource Planning ("ERP") solutions to the supply chain industry, will be holding its Annual General Meeting later this morning. At the meeting, Chairman, Tom Milne, will provide the following update on trading:
"The year ended 31 December 2009 represented a pleasing performance, with the Group achieving excellent trading results against a difficult economic backdrop. In the first five months of the current financial year, we have continued to make further progress. In March, we completed two acquisitions, DigiMIS Limited, which provides cloud computing services, and Pebblestone Netherlands, a leading European supplier of ERP solutions to the fashion industry. Both acquisitions are integrating well and are strengthening K3's offering.
In addition, business activity has shown a marked increase compared to the same period last year, with the sales pipeline underpinned by high levels of recurring income, generated from support service and maintenance fees. Therefore, the Board is confident that results for the full year remain in line with market expectations."
K3 also announces that its Nomad and broker, Canaccord Adams, has changed its name to Canaccord Genuity Limited following the acquisition of Genuity Capital Markets.
Enquiries:
| K3 Business Technology Group plc | Andy Makeham (CEO) | T: 0161 876 4498 |
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| David Bolton (CFO) |
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| Biddicks | Sophie Lane | T: 020 7448 1000 |
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| Canaccord Genuity | Simon Bridges | T: 020 7050 6500 |
K3 Business Technology Group (KBT)