Business sales group reports record half year deals levels
K3 Capital Group, the Bolton-based business and company sales specialist, saw sales and EBITDA improve in the first six month of the year, it revealed today.
In a trading update for the six months to November 30, the AIM-listed group said it had achieved a ‘double digit’ increase in revenues and an increase in EBITDA compared with the first half of the prior financial year, with a strong EBITDA margin maintained at in excess of 40%.
During the reporting period, the group has seen a record number of completed transactions, up 30% from the comparative period last financial year, with the growth primarily driven from its volume brands, Knightsbridge and KBS Corporate.
In a similar vein to previous years, the group enters its second half of the financial year with the momentum of a record number of opportunities within its work in progress pipeline – agreed and in legal exclusivity – which carry strong transaction fee values.
It said the board welcomes the political stability that last week’s election result brings, and while the outlook for the UK still sees some economic uncertainty, not least surrounding Brexit, the company is pleased with the growth that has been achieved during the first half and can confirm that it remains confident in achieving market expectations.
Chief executive John Rigby said: “We are pleased to report another very solid H1 performance with more transactions completed during the first half than ever before, a particularly encouraging performance in the context of the difficult market backdrop of political and economic uncertainty.
“This growth is further backed up by a record number of deals in the pipeline that underpins our confidence of continued growth in the second half of FY20 and beyond.”
K3 Capital Group will publish its full interim results on February 4, 2020.