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Professional services firm K3 Capital reported that first half performance was in line with management expectations, driven by organic growth as well as the contribution of the recent acquisitions.
During the first six months of fiscal 2022, the company was expecting to report revenue in excess of £30 million, well above the £17.6 million in the prior year period.
Adjusted EBITDA - earnings before interest, tax, depreciation and amortisation, stated before acquisition related costs and share based payment charges - was expected to be about £9million, compared with £5.6 million last year.
'Performance is in line with management's expectations and represents c.50% of market consensus revenue and adjusted EBITDA for the year ended 31 May 2022.'
'The group maintains strong pipelines across its brands for the second half of the year and management is confident in meeting the market expectations for the full year,' it added.