K3 Business Technology Group PLC AGM Statement (6001P)
May 30 2018 - 2:01AM
UK Regulatory
TIDMKBT
RNS Number : 6001P
K3 Business Technology Group PLC
30 May 2018
AIM: KBT
30 May 2018
This announcement is inside information for the purposes of
Article 7 of Regulation 596/2014.
K3 BUSINESS TECHNOLOGY GROUP PLC
("K3" or "the Group" or "the Company")
Provider of mission-critical software (owned and third party),
cloud solutions and managed services to the supply chain sector
AGM Statement
K3, which provides mission--critical software, cloud solutions
and managed services to the supply chain sector, will be holding
its Annual General Meeting today and Chairman, Stuart Darling, will
make the following comment on current trading:
"We are pleased to confirm that trading in the first half of the
financial year to 30 November 2018 is in line with management
expectations, with the measures taken to improve K3's operational
performance and place the Group on a better footing for profitable
growth yielding encouraging results.
"As previously reported, driving sales of software and solutions
based on K3's intellectual property ("IP") is central to our growth
strategy, and will benefit recurring revenues and margins. Sales of
'ax I is fashion' showed a significant upturn on FY17 and there is
a good pipeline for H2. Pebblestone, our product for the mid-market
fashion industry, continued to perform well. Imagine, our
cloud-native platform that enables customers to adopt innovative
technology rapidly without replacing existing core systems, signed
its largest customer contract to date, with Ossur, a global
manufacturer of prosthetic limbs. While Imagine sales are a
relatively small contributor currently, this product remains at the
forefront of our IP growth strategy.
"The Group's performance across other areas of activities has
also been encouraging. Global Accounts, which is based on our
relationship with Inter IKEA System B.V and the Inter IKEA Concept
franchisees, offers strong growth opportunities in new markets.
Deal closures in our Dynamics practice is promising and our Sage
practice signed Manx Telecom Plc as a new Sage X3 customer.
"The Board remains very encouraged about the outlook for K3 in
the second half of the financial year, and will provide a further
update with the interim results."
Enquiries:
K3 Business Technology Adalsteinn Valdimarsson T: 020 3178 6378 (today)
Group plc (CEO)
www.k3btg.com Robert Price (CFO) Thereafter 0161 876
4498
finnCap Limited Julian Blunt/ James Thompson T: 020 7220 0500
(NOMAD)
KTZ Communications Katie Tzouliadis/ Emma T: 020 3178 6378
Pearson
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END
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