Brighter outlook from K3

BUSINESS software supplier K3 Business Technology has issued an upbeat statement remarking on improving opportunities in the retail market.

The Salford-based firm said in September it had endured one of its toughest years and reported a sharp fall in pre-tax profits from £6m to £462,000 in the year to June. Sales fell £4.4m to £63.5m.

AIM-listed K3 supplies and supports Microsoft-based enterprise resource planning (ERP) software – a retail system that manages everything from stock to till sales.

In a statement issued ahead of its annual general meeting chairman Tom Milne said: “We are pleased to report that the group is trading in line with management targets and that opportunities in the retail marketplace have improved, which helps to support the conversion of our pipeline.  

“The recent launch of K3’s major new Microsoft Dynamics ‘AX|is Retail’ solution was well received. A further enhanced version of the product remains on track for release in mid 2014.”