K3 Business Technology Group (KBT)

Sector:

IT Services

 108.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 126.00
  • 52 Week Low: 105.00
  • Currency: UK Pounds
  • Shares Issued: 44.73m
  • Volume: 62,000
  • Market Cap: £48.31m
  • RiskGrade: 128

K3 Business Tech selling non-core Sage business

By Josh White

Date: Monday 20 Sep 2021

LONDON (ShareCast) - (Sharecast News) - Software and cloud services provider K3 Business Technology announced the sale of the business and assets of its non-core Sage business to existing Sage reseller Pinnacle Computing Support for £1.68m cash on completion on Monday.
The AIM-traded firm said completion was expected in early October, following a TUPE consultation process around the transfer of Sage business employees to Pinnacle, with the consideration is subject to a downward adjustment of around £0.2m to cover any restructuring costs that Pinnacle could incur immediately following completion.

In the financial year ended 30 November, the Sage business generated revenue of £5.2m and a pre-tax loss of £1m.

Current recurring revenues totalled £3.1m, with gross profit of £1.5m, while net liabilities stood at about £1m as at 30 May.

The board said the disposal was in line with its strategy of focusing resources on key higher-margin products and markets, and followed the sale of other non-core businesses.

K3 said the disposal proceeds would further strengthen its balance sheet, and generate a pre-tax profit of about £1.6m, which would be accounted for as an exceptional contribution to trading results in the current financial year ending 30 November.

"The sale of our Sage business is another step forward as we continue to sharpen K3's focus and simplify its operations around its higher margin core products and strategic markets," said chairman Tom Crawford.

"Following this transaction and other disposals over the last two years, the group is more streamlined, market-focused and strategically better positioned."

At 0800 BST, shares in K3 Business Technology Group were up 0.39% at 177.19p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

KBT Market Data

Currency UK Pounds
Share Price 108.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 126.00
52 Week Low 105.00
Volume 62,000
Shares Issued 44.73m
Market Cap £48.31m
RiskGrade 128

KBT Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
78.84% below the market average78.84% below the market average78.84% below the market average78.84% below the market average78.84% below the market average
29.41% below the sector average29.41% below the sector average29.41% below the sector average29.41% below the sector average29.41% below the sector average
Price Trend
26.29% below the market average26.29% below the market average26.29% below the market average26.29% below the market average26.29% below the market average
17.02% below the sector average17.02% below the sector average17.02% below the sector average17.02% below the sector average17.02% below the sector average
Income Not Available
Growth
50.11% below the market average50.11% below the market average50.11% below the market average50.11% below the market average50.11% below the market average
50% below the sector average50% below the sector average50% below the sector average50% below the sector average50% below the sector average

KBT Dividends

  Latest Previous
  Final Final
Ex-Div 16-May-19 17-May-18
Paid 14-Jun-19 15-Jun-18
Amount 1.54p 1.40p

Trades for 28-Mar-2024

Time Volume / Share Price
16:20 60,000 @ 107.67p
10:38 2,000 @ 107.80p

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