K3 sees demand return in 2010

SUPPLY chain software specialist K3 Business Technology has said it expects its results to be within expectations, as business activity has shown a “marked increase” on last year.

The Manchester-based company made the statement ahead of its annual general meeting later, to be held later today.

Chairman Tom Milne said the last financial year to the end of December had given a “pleasing performance” given the economic climate and that the company had made progress in the first five months trading of this year.

For the 12 months to the end of December revenues increased 5% to £39.46m and profit before tax was £4.04m, up from £3.94m.

He added: “Business activity has shown a marked increase compared to the same period last year, with the sales pipeline underpinned by high levels of recurring income, generated from support service and maintenance fees.

“Therefore, the board is confident that results for the full year remain in line with market expectations.”

In March, the company completed two acquisitions, of DigiMIS Limited , which provides cloud computing services, and Pebblestone Netherlands , a European supplier of ERP solutions to the fashion industry.

Mr Milne said: “Both acquisitions are integrating well and are strengthening K3’s offering.”