- K3 Capital Group warned of profits as a small number of high value transactions within its corporate finance division were taking longer to complete amid Brexit uncertainty.

The company it expected to report earnings (EBITDA) between £4.5m and £5.0m due to 'the increasingly difficult backdrop of UK's economic and political environment in the run up to Brexit, these transactions continue to experience challenges and take longer to complete than anticipated and consequently may not close within the current financial year,' the company said.

But the company added that it remained confident of the group's future prospects as it kept its outlook for 2020 unchanged.

'From an operational perspective, the Group has continued to perform well against a backdrop of significant uncertainty in the UK economy,' said Chief Executive of K3 Capital Group.

'Four out of our five income streams across the Group will see strong growth in the period and it is simply issues which are outside of our control, with a small number of high value transactions slipping to the right, which will result in what we see as a temporary dip in profitability.'

At 9:05am: (LON:K3C) K3 Capital Group Plc share price was -32p at 128p

Story provided by