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Birmingham Post
Birmingham Post
Business
Jon Robinson

Professional services firm K3 Capital's revenue set to be 'significantly ahead' of expectations

Full-year revenue at Bolton-headquartered professional services group K3 Capital is on track to be "significantly ahead" of market forecasts.

The listed group has said that following a "robust" financial and operational performance in the first half of its year, it has had a "strong start" to the second half, trading ahead of expectations.

As a result, it now anticipates revenue for the year ended May 31, 2021 to be "significantly ahead of consensus market expectations", with its adjusted EBITDA totalling no less than £12m.

A statement to the London Stock Exchange said: "All business divisions have performed well, with a particularly strong performance by KBS, driven by a large volume of transactions.

"The recent acquisitions of inTax and Aspect Plus, as well as lateral hires, have also already made positive contributions in the period.

"We expect to see continued strong performance across the group for the remainder of the financial year."

The update comes after K3 Capital announced its half-year results last month.

Chief executive John Rigby added: "The group's excellent performance during the global pandemic is testament to the resilience and determination of our teams.

"This trading performance also provides further validation of our strategy, with the group's diversified revenue streams providing us better visibility than ever before on future trading.

"Whilst all divisions have performed well, we are particularly pleased with the large volume of transactions, across our M&A division, in line with our ongoing 'bigger and better' strategy.

"Notwithstanding the ongoing challenging external environment, we expect to see continued strong performance across each of our business divisions.

"Our pipeline remains strong for the remainder of FY21 and we are confident of making further progress in the current financial year."

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