Challenging year for K3 Business Technology

Manchester-based software company K3 Business Technology has reported a loss of £2.8m on revenue of £23.2m (2023: re-presented £31.3m). 

The company has completed the sale of NexSys Solutions in January 2025 for £36.0m.

Combined income from K3 Fashion and K3 Pebblestone increased by 3% year-on-year to £6.0m, helped by new customers and existing customer expansion.

Eric Dodd, Chief Executive Officer of K3 Business Technology Group plc, said:

“It was a challenging year, especially at Global Accounts, where activity levels reduced significantly, as we previously reported. Nonetheless, results are in line with our expectations, helped by the actions we took over costs and resources to maintain firm financial discipline.

“We were pleased to agree the sale of NexSys at an attractive valuation at the close of the financial year. It enables us to return significant cash to shareholders, and our focus remains on shareholder value. The ongoing operations are performing to budget and should trade at cash breakeven from the end of February, as planned.

“We will make a further announcement on the return of cash to shareholders in due course.”