K3 on track thanks to solid revenues
SOFTWARE group K3 Business Technology said it is generating cash and performing in line with management expectations.
In a pre-close trading statement the Salford-based company which supplies and supports Microsoft-based enterprise resource planning (ERP) software – a system that manages everything from stock to till sales – said trading in both its retail and manufacturing divisions has been “encouraging” during the past year.
High levels of income from software licence renewals and maintenance contracts supported its performance.
The firm has completed three acquisitions worth nearly £5m since March – cloud computing firm Digimis, Pebblestone Netherlands, an ERP specialist for the fashion industry, and Pebblestone IP.
It said the integration of these businesses was progressing well and despite committing cash to the deals, net debt was down £2.5m to £11.5m on last year.
K3 will post results for the 18 months to June 30 in mid-September. The figures will cover an extended period due to a change to its financial year end.
