K3 experienced management change in 2016; the new team implemented a number of changes to strategic focus and style of delivery, aimed at better capitalising on the growing retail software opportunity. Recent trading has been impacted as customers continue to adopt subscription-driven Cloud-based models and by a number of contract slippages. The ongoing strategic refocus is already beginning to bear fruit through an increase in recurring revenues while the move towards higher own-IP sales and cloud delivery continues.
K3 is a leading global supplier of integrated business systems to retailers, manufacturers and distributors. It is a leading supplier of Microsoft’s business solutions. K3 develops its own tailored software for companies within the food, retail and manufacturing industries.