By Kyle Morris
K3 Business Technology Group PLC said Thursday that its pretax loss narrowed for fiscal 2022 and that it has appointed a new chief financial officer.
The professional-services company said for the year to Nov. 30 it booked a pretax loss of 3.8 million pounds ($4.7 million) compared with a loss of GBP7.8 million a year earlier.
Revenue was GBP47.5 million compared with GBP45.3 million a year earlier, driven by growth in the third-party solutions division and a higher contribution from strategic products in K3 Products division.
“The new financial year has started encouragingly, with our largest ever software license contract for our flagship fashion product. The board is confident that this progress will continue and expects the group to become cash generative this year,” Chief Executive Marco Vergani said.
The company also said that Eric Dodd has been appointed as chief financial officer from April 3. Mr. Dodd will replace Rob Price. In order to ensure a smooth handover, Mr. Price will remain with K3 until May 31, the company said.
Write to Kyle Morris at kyle.morris@dowjones.com