Stock data
| Market cap. | £47.4m |
| Last close | 166.50p |
| High / Low (52 weeks) | 236.5p / 122.0p |
| Stock market listing | AIM |
| Forecast net debt (m) | N/A |
| Forecast gearing ratio (%) | N/A |
| Team | Technology |
| Sector | Technology |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | 0 | 12.12 | (10.72) |
| Relative * | (5.42) | 3.64 | (7.99) |
* % Relative to local index
Other companies covered in sector
| Y/E Jun | Revenue (£m) | EBITDA (£m) | PBT (£m) | EPS (fd) (p) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2010A | 59.8 | 10.3 | 7.6 | 23.4 | 7.1 | 5.6 |
| 2011A | 52.8 | 10.6 | 8.7 | 27.0 | 6.2 | 7.6 |
| 2012E | N/A | N/A | N/A | N/A | N/A | N/A |
| 2013E | N/A | N/A | N/A | N/A | N/A | N/A |
Last updated on 08/12/2011
Latest research
Expanding UK Retail
Flash note | Technology | 20/12/2011
Manufacturing addition
Flash note | Technology | 15/12/2011
Unisoft POS acquisition
Flash note | Technology | 08/12/2011
Recurring revenue growth
Review | Technology | 20/09/2011
Sage addition
Update | Technology | 26/07/2011
FY11 trading update
Update | Technology | 05/07/2011
UK retail acquisition
Update | Technology | 29/03/2011
Profitability maintained
Outlook | Technology | 09/03/2011
SYSPRO hosting deal
Flash note | Technology | 14/02/2011
Growth strategy on track
Update | Technology | 25/01/2011
Sage 200 acquisition
Update | Technology | 23/12/2010
Managed services buy
Update | Technology | 18/11/2010
Investment summary
Continuing its series of strategic acquisitions, K3 has acquired Retail Systems Group Ltd (RSG) for up to £1.48m. RSG supplies Microsoft Dynamics RMS software to the retail market in the UK and Ireland. In the year to 30 June 2011, RSG generated revenues of £2.0m and EBITA of £0.3m (15% margin). The valuation (up to 0.7x trailing sales and 4.9x trailing EBITA) is in line with previous acquisitions.
Last updated on 20/12/2011
Industry outlook
K3 is Microsoft's biggest Dynamics partner in the UK, supplying the retail, distribution and manufacturing sectors. The provision of solutions with a growing proportion of K3's own IP differentiates it from other IT service companies and resellers. While the retail and manufacturing markets are expected to be tough in 2011, K3's Managed Services business is well positioned to benefit from the growing demand for cloud computing.
Last updated on 09/12/2011
Key management
| Thomas Milne, Chairman |
| Andy Makeham, CEO |
| David Bolton, FD |
Company address
| Baltimore House 50 Kansas Avenue Manchester M50 2GL United Kingdom +44 (0) 161 876 4498 View website |
