Edison Investment Research - K3 Business Technology Group (KBT) Update: FY15 in line, with strong cash management

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Edison Investment Research

Update: FY15 in line, with strong cash management

K3 expects to report FY15 results broadly in line with market expectations, while net debt has fallen faster than we forecast. The company is making good progress with its strategy to grow its own-IP business, which should support revenue and margin growth in the medium term. K3 is planning to report full year results in mid-September.

10/07/2015 3 EN

Underlying

K3 Business Technology Group

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United Kingdom

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Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Edison Investment Research

Update: FY16 trading in line

K3 expects to report FY16 results broadly in line with market expectations. Trading was encouraging during H216, with a good level of contract wins in the final months of the year. Net debt has reduced over the year, although is higher than we forecast, partly due to a major retail customer going into administration close to year-end. We make no changes to estimates, pending FY16 results on 13 September.

July 14, 2016 July 14, 2016 3 EN

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Flash note: UK visitor attraction software acquisition

K3 continues to strengthen its position in the visitor attractions and leisure sector with the acquisition of Merac, a UK-based supplier of electronic PoS and management systems, for up to Â£1.45m in cash. The deal brings a roster of UK customers as well as adding to the companyâ€™s portfolio of own-IP solutions.

July 4, 2016 July 4, 2016 2 EN

Edison Investment Research

Update: Scandinavian retail software acquisition

K3 is acquiring DdD, a Danish point-of-sale (PoS) solution provider, for up to â‚¬10m/Â£7.9m. The company is raising Â£12.8m (net) from the issue of 4.1m shares to fund the deal and future product development. The acquisition adds proprietary retail software and should be complementary to K3â€™s existing retail software solutions. The deal also expands K3â€™s presence in Northern Europe and offers cross-selling potential.

April 26, 2016 April 26, 2016 5 EN

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Update: FY15 in line, with strong cash management

Update: FY16 trading in line

Flash note: UK visitor attraction software acquisition

Update: Scandinavian retail software acquisition

SenSen Networks - Time to scale

Molten Ventures - Forward Partners deal completed

Melrose Industries - Steady climb

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