Bolton-based K3 Capital Group has reported revenue and EBITDA growth, which it attributed to completing a record number of transactions.
The listed business and company sales group, which owns the Knightsbridge and KBS Corporate brands, said revenues increased to £8m for the half-year ended November 30, up from £7.2m the previous year.
Adjusted EBITDA also grew to £3.5m, up from £3.1m, while net cash reached £6.8m, up from £5.9m in 2019.
Chief executive John Rigby said: “The board is pleased to report a strong trading period for the first six months of FY20 with double digit growth in both revenue and EBITDA.
“In the context of a difficult market backdrop of political and economic uncertainty, we completed more transactions than ever before.
“This has resulted in overall revenue of £8m and an EBITDA of £3.5m.”
Mr Rigby continued: “Our technology driven approach to marketing has ensured that we continue to see increased numbers of buyers, spanning private equity, trade and plc acquirers from both the UK and overseas.
“We secured a 57 per cent rise in the volume of buyers attracted to the group, as well as an increase in buyer meetings of 51 per cent and a 26 per cent increase in offers.
“The improving performance across these KPIs, a stabilising political and economic environment, coupled with the robust deal pipelines that exist across all three trading brands, lead us to a confident outlook for both the full year FY2020 and beyond.”
The group reported a “record” work-in-progress pipeline for the half year.
The group said the general election outcome in December was “welcome”, while Mr Ribgy said it was “encouraging” for the mergers and acquisitions market.
The election result, along with its work-in-progress pipeline, means the group is “confident” in a “positive” second half, and expects earnings to meet market expectations.
The group said it has had a “strong” start to the second half, with December generating revenues of £2.4m and EBITDA of £1.3m.
