K3 has this morning published a trading update; there has been weakness in December trading as customers continue to adopt subscription-driven Cloud-based models. This trend, combined with a number of contract slippages, has impacted H1, and management are not confident of making up the shortfall in H2. We downgrade our 2017E estimates by 18% at the Adj EBITDA level. We await further detail, both in terms of strategic progress and around the near-term pressures, with the H1 results due toward
10 Jan 2017
Short term trading pressure
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Short term trading pressure
K3 Business Technology Group PLC (KBT:LON) | 104 0 0.0% | Mkt Cap: 46.3m
- Published:
10 Jan 2017 -
Author:
Gareth Evans -
Pages:
4
K3 has this morning published a trading update; there has been weakness in December trading as customers continue to adopt subscription-driven Cloud-based models. This trend, combined with a number of contract slippages, has impacted H1, and management are not confident of making up the shortfall in H2. We downgrade our 2017E estimates by 18% at the Adj EBITDA level. We await further detail, both in terms of strategic progress and around the near-term pressures, with the H1 results due toward