K3 Capital Group PLC Trading Statement (9711H)
June 14 2017 - 1:00AM
UK Regulatory
TIDMK3C
RNS Number : 9711H
K3 Capital Group PLC
14 June 2017
K3 CAPITAL GROUP PLC
("K3", the "Company" and including its subsidiaries, the
"Group")
Pre-close trading update and notice of results
K3 Capital Group plc, a leading business and company sales
specialist in the UK, today announces its pre-close trading update
ahead of final results for the year ended 31 May 2017 (the
"Period").
K3's strong performance has continued across the Group resulting
in significant revenue growth and strengthening underlying
Normalised* EBITDA when compared to the prior year. As a result,
the Board anticipates reporting revenue and Normalised* EBITDA for
the Period comfortably in line with market expectations.
The strong performance has been driven by continued growth
across each of the subsidiaries, KBS Corporate, KBS Corporate
Finance and Knightsbridge. The Group has maintained its growing
momentum and reputation as a leading business and company sales
specialist in the UK, winning an increasing number of client
mandates at higher average transaction fee values across the Group,
compared with prior periods.
John Rigby, CEO of K3 commented:
"We are delighted to update our shareholders on a record year
for K3, which included our successful IPO completed on 11th April
2017.
"The Group's strong operational momentum has continued since the
IPO and the Board expects to report revenue and Normalised* EBITDA
comfortably in line with expectations, further demonstrating the
strength of K3's disruptive business model. We have a significant
pipeline of opportunities and we remain optimistic that we will
continue to deliver growth against our core KPIs over the coming
year and beyond."
* Normalised (unaudited) reflects the illustrative historical
cost savings of having Triskell and KBS CF personnel as employees
of the Group and is stated before non-recurring exceptional
expenses incurred during the Period.
Notice of results
The Group will announce its audited final results for the year
ended 31 May 2017 on 11 September 2017.
This announcement contains inside information. The person
responsible for arranging the release of this announcement on
behalf of the Company is Andrew Melbourne, Chief Financial Officer
& Company Secretary.
For further information please contact:
K3 Capital Group plc Tel: c/o Newgate
020 7680 6550
John Rigby, Chief Executive Officer www.k3capitalgroupplc.com
Andrew Melbourne, Chief Financial
Officer
finnCap Ltd (Nominated Adviser and Tel: 020 7220 0500
Sole Broker)
Jonny Franklin-Adams, Emily Watts,
Anthony Adams (Corporate Finance)
Tim Redfern, Richard Chambers (Corporate
Broking)
Newgate Communications Ltd (Financial Tel: 020 7680 6550
PR)
Alistair Kellie, Zoƫ Pocock, k3capital@newgatecomms.com
James Ash
About K3 Capital
K3 Capital Group plc is a leading business sales and brokerage
firm headquartered in Bolton with operations throughout the UK. It
acts for vendors of businesses from c. GBP50,000 to c. GBP50
million through its three trading subsidiaries Knightsbridge, KBS
Corporate, and KBS Corporate Finance.
K3 Capital operates a disruptive business model with a direct
marketing approach to client acquisition, using incentivised and
experienced salespeople rather than advisory teams, while its
highly visible online presence and proprietary online business
valuation portal generates further leads. This innovative model,
combined with a continuing strategy towards targeting higher value
clients, are key drivers for growth and profitability.
The Group also offers all clients fully contingent and inclusive
legal fees through its partner relationship with Gateley.
K3 Capital Group trades on the London Stock Exchange (AIM:
K3C.L), having listed on 11 April 2017.
Please visit www.k3capitalgroupplc.com for more information.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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