The chief executive of a listed Salford-headquartered software firm has hailed its "resilient performance" during the first half of its financial year, despite parts of the customer base being "significantly disrupted" by the pandemic.
K3 Business Technology, which provides business software, cloud solutions and managed services, has reported a revenue of £23.2m for the six months to May 31, 2021, compared to the £23m it posted during the same period last year.
The group's pre-tax losses however widened from £1.4m to £4.7m.
Chief executive Marco Vergani said: "Half year results are in line with management expectations. The group delivered a resilient performance despite certain parts of the customer base being significantly disrupted by the pandemic.
"Since joining K3 in late March, my priority has been a thorough evaluation of the group's operations and market strategy.
"This process is expected to be substantially completed over the coming months. It will help to set a clear strategic course.
"K3 has an exciting product offering and talented teams. This gives us a firm basis from which to move forward as we continue to build own-IP sales, which will generate long-term, high-margin recurring income.
"We remain very confident that there is a significant market opportunity for the group, particularly in the fashion, apparel and design market. We expect to make good strategic progress in the second half."
