- Cloud solutions company K3 Business Technology touted improved performance for the second half of the year after narrowing losses in the first half.

For the six months ended 31 May, pre-tax losses narrowed to £966m from £971m on-year as revenue showed a slight decline to £27.2m from £27.9m.

The company said it was 'confident of obtaining adequate banking facilities once current banking facilities expire on 31 March 2021.'

Looking ahead, the company touted improved performance for the remainder of the year.

'With the easing of lockdown restrictions, we expect to see an improvement in sales activity,' K3 Business Technology said.

'Earnings and cash generation are typically weighted to the second half of the financial year, reflecting the high proportion of software licence and support contracts renewals that fall in the period,' it added.

At 9:30am: [LON:KBT] K3 Business Technology Group PLC share price was 0p at 65.5p

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