I first started watching KBT in March 2007 at 125p, price now is 147p after a peak of 195p. It's come down with rest of the sector, KBT has been very busy with earning enhancing acquisitions, and healthy contract wins. I wasn't planing on buying growth shares at this time, but I dipped in this morning and brought a modest amount with a view of topping up if markets worsen. See some fundies below.

Finals to report 12 March 2008.

Trading update. 21 January 2008 = Operating profit before amortisation expected to be upper end of market expectations. Reflecting increased importance of online sales for retailers. Look forward to 2008 with confidence.

2007 EPS forecast 15.3p , PER 9.8 , PEG 0.15
2008 EPS forecast 22.0p , PER 6.7 , PEG 0.18

Debt is expected to rise to 13 or 14m due to acquisitions, but with strong cash flow and no more acquisition they would be debt free within 3 to 4 years. Market cap is 29m.

Pleased sp has remained in positive area on a weak day in the markets, would hope we may have some positive comments in tomorrows press. Worth noting that due to 3 acquisitions last year the debt level is now 16m, but K3 have very high cash flow which could pay these off in 3 to 4 years.

Look at the balance sheet goodwill and other intangibles exceed the tangible net worth of the company. Perhaps the market is saying they paid too much for their recent acquisitions.

I was expecting 14m in debts, they are 2m over this at 16m. I will look at the balance sheet again.

Interims due Wednesday.

Not in these at present, but will study the statement with interest.

Look for debt reduction to under 9.0m, and 1.7m adjusted PBIT, and 6p adjusted EPS to confirm we are inline for full year estimates.

Not a easy one to calculate so I may be out a bit with figures, but I believe that debt reduction is the key here.

Interims today still downbeat.

Adjusted PBIT = 1.54m,
Adjusted EPS = 3.1p
Still looking for Net Debt reduction too 9.0m to year end.

Expect price weakness and broker revisions downwards for full year, will look again at full year results.