Retail orders drive K3 sales
BUSINESS software firm K3 has bounced back, with rising demand pushing up sales and earnings.
The Salford-based business supplies and supports Microsoft-based enterprise resource planning (ERP) software – a retail system that manages everything from stock to till sales.
In the year to the end of June pre-tax profits increased from £462,000 to £1.88m, and sales were up from £63.5m to £71.9m. After stripping out amortisation and exceptional costs the group said profits rose from £4.3m to £6.6m.
The total value of major orders during the year was £25.3m, more than double the figure in 2013. Its new retail software, which is based on Microsoft’s Dynamic AX product, made a big impact, accounting for around £12.6m of new business wins.
Chairman Tom Milne said: “Today’s results show an encouraging improvement in the business which is expected to continue into 2014-15. Having restructured the business and invested heavily in intellectual property over the last two years, especially in retail, we have opened up new opportunities.”
