K3 Business Technology 2H Performance in Line With Expectations

Pierre Bertrand

K3 Business Technology Group PLC said Thursday that its results for the second half of fiscal 2022 were in line with management’s expectations as existing customers increased the number of product licenses throughout the year.

Professional services companies have adjusted earnings before interest, tax, depreciation and amortization (excluding exceptional items and other one-time items) of at least £5 million for the financial year ended 30 November ($6.1 million). , compared to his £4.4m in the 2021 financial year.

The company also won new customers, so revenue is expected to be higher than last year on higher recurring and predictable revenues, but it didn’t provide figures.

“A key metric is the annualized recurring total value of software licenses from our strategic products, which is a significantly higher year-on-year contribution,” he said.

K3 Business Technologies’ year-end cash position is expected to decline to around £7.1m from £9m in 2021.

The company plans to announce final results for fiscal 2022 at the end of March.

Write to Pierre Bertrand at pierre.bertrand@wsj.com.

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