Member Article

Cheshire software firm experience weak retail market

Cheshire-based enterprise software specialists K3 revealed weak retail market conditions have impacted business.

The firm reported some pick-up in orders more recently, as series of high-profile retail names signed up for its Microsoft AX and NAV solutions in a £10m deal.

However, deferred orders mean the firm expect to report revenue and pre-tax profits below current market forecasts.

Andy Makeham, chief executive, commented: “Whilst clearly disappointed by the order slippage, we are nevertheless pleased in the step change in order wins for both our AX and NAV solutions in what remains a difficult market.

“It is also very encouraging that some major retail names are selecting our new Gemstone solution. K3 delivers good levels of profits, and the underlying cash generation and strong levels of recurring revenues help to underpin the business.”

This was posted in Bdaily's Members' News section by Tom Keighley .