K3 Capital Group plc, a multi-disciplinary professional services firm providing advisory services to SMEs, is pleased to provide a further update on the Group's trading for the current financial year ending 31 May 2021.
In the trading update dated 4 March 2021, it was stated that following a strong start to H2 the Group was trading ahead of expectations. We are pleased to report that this trend has continued, with all business divisions having continued to perform well, with a particularly strong performance by KBS. As a result, we now anticipate the result for the year ending 31 May 2021 to be significantly ahead of revised consensus market expectations, with revenue expected to be in the region of £45 million and Adjusted EBITDA* of no less than £13.25 million.
* Adjusted EBITDA is earnings before interest, tax, depreciation and amortisation, stated before acquisition related costs and share based payment charges.
John Rigby, K3's CEO, commented,
"The Group has continued to perform strongly in March and April, surpassing our expectations and resulting in a further earnings upgrade.
We continue to pursue our strategic goal of building a wider group of growing and complementary professional services businesses and look forward to providing the market with an update on our progress in due course."
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU No. 596/2014) which is part of UK law by virtue of the European Union (withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.