Retail Contract Wins

28 Sep 2007 07:02

K3 Business Technology Group PLC28 September 2007 KBT.L K3 BUSINESS TECHNOLOGY GROUP PLC ("K3" or "the Company") New contract wins by the Retail Software Division K3, which supplies and supports IT solutions for mid-tier retailers andmanufacturers, is pleased to announce that its Retail Software Division has wona number of significant new contracts in recent weeks, which are expected togenerate revenues of approximately £2.0m. The largest of these contracts is with Jigsaw, the well known high streetfashion retailer. K3 will install and support its Microsoft Dynamics NAVsoftware with an implementation that is expected to be completed by mid 2008. K3 has also won a contract with the two leading stationery chains owned by TheoPaphitis, namely Rymans & Partners the Stationer ("Rymans"), to supply the sameMicrosoft Dynamics NAV software. The solution will replace existing legacysystems and provide functionality to address Finance, Inventory Management,Distribution and support the operation of Rymans' 250 stores across the UK. Thesystem is to undergo a rapid implementation, going live during October. Andy Makeham, CEO, of K3 commented, "When we announced our interim results at the beginning of the month, we statedthat the Retail Software Division had seen lead intake increase and that the newbusiness pipeline looked very encouraging. I am now delighted to announce that anumber of these deals have concluded successfully, including Jigsaw and Rymans. Over the last year, we have invested significantly in the Retail SoftwareDivision, restructuring it around specific market sectors. Our new contractswith Jigsaw and Rymans are testimony to the progress we are making in buildingour position within our chosen sectors. Jigsaw and Rymans also provide K3 withadditional high profile reference sites, which are valuable to us as we continueto drive sales forwards." Enquiries: K3 Andy Makeham, Chief Executive T: 01282 864 111 David Bolton, Chief Finance Officer Biddicks Katie Tzouliadis/Sophie Lane T: 020 7448 1000 Daniel Stewart Paul Shackleton T: 020 7776 6550(NOMAD) This information is provided by RNS The company news service from the London Stock Exchange