K3 Capital reports 'strong' performance

Business and company sales specialist K3 Capital Group issued a pre-close trading update ahead of its final results for the year ended 31 May on Wednesday, reporting that “strong performance” had continued across the group, resulting in “significant” revenue growth and strengthening underlying normalised EBITDA when compared to the prior year.

The AIM-traded firm said that as a result, the board anticipated reporting revenue and normalised EBITDA for the period comfortably in line with market expectations.

It said the strong performance had been driven by continued growth across each of the subsidiaries - KBS Corporate, KBS Corporate Finance and Knightsbridge.

The group 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, the board claimed.

“We are delighted to update our shareholders on a record year for K3, which included our successful IPO completed on 11th April 2017,” said CEO John Rigby.

“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.”

The group was set to announce its audited final results for the year ended 31 May on 11 September.