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K3 Capital Group PLC shares jumped on Tuesday, as the professional advisory services firm said its annual results are likely to exceed market expectations.
Bolton, England-based K3 Capital said for the year ended May 31, revenue is expected to grow by around 43% to £77.5 million, from £47.2 million the year before.
Adjusted earnings before interest, tax, depreciation and amortisation are expected to be 24% higher at £19.5 million from £15.7 million.
The figures exceed market expectations, which according to Numis sit at £63.5 million for revenue and £18.2 million in Ebitda.
Shares in K3 were trading 8.5% higher at 255.00 pence each in London on Tuesday morning.
Revenue growth is expected across all business divisions, with Business Sales forecast to rise by 34%, Restructuring by 33% and Tax to more than double.
‘The Business Sales division had a record year driven by continued organic growth momentum enabled by the group's data driven marketing technology platform. The Restructuring division has grown well, whilst at the same time investing in both its UK business and its overseas office footprint, and is seeing increasing demand for its services.
‘The Tax division has seen both organic and inorganic growth, to deliver over 120% increase in revenues of which a high proportion are recurring in nature,’ the firm explained.
K3 also shared that it expects another year of growth across all divisions, which will be boosted with an ‘attractive pipeline’ of merger & acquisitions opportunities.
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