BOSSES at a business sales outfit in Bolton remain confident of a successful 2019-20 - despite a fall in pre-tax profits.

Revenues for parts of the Summerfield Road based K3 Group has remained promising, according to their year-end results.

Growth of 38 per cent has been recorded for Knightsbridge, their business transfer service, and KBS Corporate is 23 per cent ahead, year-on-year.

But a significant drop for their corporate finance arm, of 87 per cent, has seen group revenues fall by 18 per cent, from £16.5m to £13.2m.

However directors have already seen income from the first quarter of 2019-20 exceed that for the past year, leading to hopes of a bounce.

Ian Mattioli, K3's chairman, said: "I am pleased to report a satisfactory year of trading at K3 Capital Group plc and continued growth in the volume brands within the group.

"The trading period has seen significant increases in these brands however, it has seen a significant reduction in corporate finance transactions completing within the period.

"Given the growth of the volume brands, it is pleasing to report that the board has made significant progress in creating a more robust business model with a reduced reliance on larger mandates, and given the strong pipelines heading into the new financial year.

“I remain confident of making further progress and delivering on expectations for (2019-20)."

John Rigby, group chief executive, added: "As an innovative and disruptive player within the fragmented business and company sales marketplace, K3 Capital continued to outperform the general market, completing 57 per cent more deals than any other advisor, to maintain its market leading position as the UK’s most active deal maker."

The 165-strong outfit has relocated its Knightsbridge operation into adjoining office space, which it says will give them the chance to develop their commercial offering.