Trading Statement
September 09 2003 - 3:02AM
UK Regulatory
RNS Number:5330P
KBC Advanced Technologies PLC
09 September 2003
KBC Advanced Technologies plc
9 September 2003
KBC Advanced Technologies plc
("KBC" or the "Group")
Trading Update
In our half-year results announcement on 14 August 2003 we referred to an
improvement in KBC's trading performance during the second quarter of the
current year and an expectation of further improvements during the second half
of the year. It was also noted that further contract awards were needed in the
short term to maintain the improved performance.
Since that announcement KBC has had disappointing news on two contracts, which
at that time were expected to be signed imminently and would have made a
material contribution to the Group's trading performance in 2003. Signing of
the contracts has been delayed and the profit contribution from the contracts
will not be as significant for the current year as previously expected.
Whilst trading is still expected to show an improvement during the second half
of the year, in the light of this news KBC now expects to achieve a full year
operating profit of around one half of that delivered in 2002.
This setback comes at a time when KBC was looking forward to an improvement in
trading performance following a difficult two years. Despite this, the Board
believes there are still many opportunities which will allow recovery later this
year and into 2004.
Enquiries:
KBC Advanced Technologies plc 01932 236314
Don Romano, Chief Executive
Nicholas Stone, Finance Director
This information is provided by RNS
The company news service from the London Stock Exchange
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