K3 Capital sees 'significant' growth trend continuing

K3 Capital was boosted on Tuesday after the company said it achieved “significant” revenue and profit growth across its Knightsbridge and KBS Corporate brands.

A statement from the AIM traded UK company sales specialist said it continues to trade in line with expectations and that the revenue and profit growth was seen by its board as a trend that is expected to continue into the second half of the financial year and beyond.

John Rigby, chief executive of K3, said: "Over the past six months, we have observed a continuing uplift in the numbers of both buyers and sellers that we continue to attract and are pleased to report a record pipeline in respect of work in progress and transactions progressing through the legal process. "

Rigby added that, while the timing of deals was difficult to predict, the strength of this pipeline underpinned the board’s "cautious optimism" at the start of the second half of the year.

A significant number of the transactions in the pipeline for KBS have signed heads of terms, with the majority of these on track for completion within the full financial year.

"The past six months has seen a significant scale-up in Knightsbridge and KBS Corporate and it is encouraging to see that a greater proportion of our revenue and profit for the Interim Results is attributable to these divisions," said Rigby.

K3 Capital’s shares were up 3.30% at 282.00p at 0937 GMT.