K3 Capital earnings expected to hit upper end of re-forecast estimates

5th Jun 2019 09:44

(Sharecast News) - Sales specialist K3 Capital told investors on Wednesday that its full-year adjusted EBITDA was expected to come in at the upper end of its re-forecast estimates.K3 Capital, which warned on earnings back in April after a series of "significant" transactions in its corporate finance unit were delayed on the back of Brexit-related uncertainty, told investors that revenue was also expected to be in line with market expectations.The AIM-listed group re-forecast its full-year EBITDA for somewhere in the range of £4.5m to £5m - significantly lower than the £7.4m originally expected.Looking forward, K3 Capital said it had entered the new financial year "with a strong pipeline across the group" and assured shareholders that it remained confident of its future prospects.K3 made no changes to its outlook for the 2020 trading year.As of 0945 BST, K3 shares had soared 21.78% to 133.34p.