Enterprise resource planning software supplier K3 Business Technology Group says that trading was in line with expectations in 2009.
The retail and manufacturing software divisions each won new contracts. K3 won more contracts than in 2008 and the average order size increased. Underlying profits are likely to edge up from £5.92m to £6.02m in 2009.
The year end is being changed to June so the next accounts will be for 18 months to June 2009.
Net debt will fall substantially from the £13m level at the end of 2008. Edison Investment Research reckons it will fall to £7.4m. That figure is helped by the £1.5m raised from a placing at 85p a share last September.
At 92p a share, K3 is valued at £23.5m. The share price is 30% higher than one year ago.
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