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An almost £30m acquisition helped Bolton -headquartered professional services firm K3 Capital's revenue surge during the first half of its financial year.

Following its deal for Quantuma Advisory, the listed company reported a revenue of £17.8m for the six months to 30 November 2020, up from £7.9m during the same period in 2019.

K3 Capital's adjusted EBITDA also increased from £3.4m to £5.6m while its pre-tax profits remained static at around £3m.

Chief executive John Rigby said: "I am delighted to report that both myself and the board are extremely satisfied with a strong financial performance during the first half of FY21.

"As stated at the time of the trading update, trading was ahead of management's expectations which is particularly impressive considering it was achieved against a backdrop of unprecedented challenges presented by the global pandemic, not least the multiple national and regional lockdowns.

"We also repaid all monies claimed under the government's Covid-19 Job Retention Scheme in the financial period.

"We made excellent strategic progress in the period, particularly through the acquisitions of randd and Quantuma, with cross referrals of clients across the group companies already starting to add real value.