- December 22, 2021
- Posted by: Stratford Team
- Category: Business
By Michael Susin
K3 Business Technology Group PLC said Wednesday that its performance for the second half of fiscal 2021 has been in line with management expectations, boosted by a strong fashion and apparel business.
The professional-services company also said that adjusted earnings before interest, taxes, depreciation and amortization–which strips out exceptional and other one-off items–for the financial year ended Nov. 30 is expected to be higher than the 4.0 million pounds ($5.3 million) posted the previous year.
It added that the fashion and apparel business saw an increase in the number of new clients and upsell renewals with existing clients.
The company said that net cash as of Nov. 30 was at around GBP9.0 million. K3 Business had net debt of GBP1.9 million as of Nov. 30 last year.
The company expects to publish its full-year results in late March.
Shares at 0827 GMT were up 6.5 pence, or 3.8%, at 178.0 pence.
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