K3’s recent (delayed) announcement for the last financial year contained commentary about the Group’s performance in the current operating environment. Today’s interim announcement builds on that with emphasis on the future of the Group as a smaller, more own-IP rich business following its exit from the UK Dynamics operation. K3 has a supportive level of resilience from its recurring revenues, its customer base and its financial position. Crucially, management sees significant upside from its K3|imagine platform and associated solutions. Although we do not reintroduce estimates at this point, we hope to review this later in the year, and would suggest that the overall EBITDA performance might be in the range £5-6m.