KBC Kbc Adv.Tech.

 

TIDMKBC 
 
RNS Number : 1346V 
KBC Advanced Technologies plc 
06 July 2009 
 

 
 
 
 
 
 
 
 
6 July 2009 
 
 
KBC Advanced Technologies plc 
("KBC" or "the Group") 
 
 
Trading Update 
 
 
KBC is pleased to announce the following trading update in relation to 
the interim results for the six months ended 30 June 2009 that will be released 
in early September. As indicated in our last update in May, trading in the first 
half of this year has been running at a lower rate than last year.  We have seen 
evidence of improvement over the last month and, with the benefit of the cost 
savings programme implemented during the second quarter, we continue to expect 
the full year results to be in line with current market expectations. 
 
 
Contract awards during the first six months are below those for the same period 
last year at around GBP24 million (2008: GBP27 million) and we expect workload 
backlog to be around GBP37 million at 30 June, marginally down from 
GBP39 million at the end of 2008.  Within this awards total, capital project 
work has been stronger than we anticipated at the beginning of the year, 
especially in Latin America and Asia, while the increase in demand for 
operational performance improvement services has been slower than we originally 
expected, with clients reluctant to commit to expenditure.  As previously 
indicated, we have taken action to reduce our cost base and have implemented 
measures to deliver annualised savings of around GBP2.6 million, of which GBP1.8 
million is likely to be realised during 2009, at a cost of GBP0.8 million. 
These costs will be charged against the results for the first half of 2009. 
 
 
The pipeline of sales contract opportunities remains strong and is evidenced by 
a total of more than GBP9 million of awards closed in June.  We also have a 
number of contracts at advanced stages of negotiation that are expected to close 
in the third quarter and contribute to this year's result. This pick up in 
activity, together with a more robust outlook for oil prices in the short and 
medium term, provides a better environment and means that, subject to closing 
the contract awards as anticipated, we continue to expect a stronger operational 
performance in the second half of the year. 
 
 
-Ends- 
 
 
+---------------+---------------+ 
| KBC           |               | 
| Advanced      |               | 
| Technologies  |               | 
| plc           |               | 
+---------------+---------------+ 
| George        |  01932 236314 | 
| Bright,       |               | 
| Chief         |               | 
| Executive     |               | 
| Nicholas      |               | 
| Stone,        |               | 
| Operations    |               | 
| and           |               | 
| Finance       |               | 
| Director      |               | 
+---------------+---------------+ 
|               |               | 
+---------------+---------------+ 
| Weber         |               | 
| Shandwick     |               | 
| Financial     |               | 
+---------------+---------------+ 
| Nick          | 020 7067 0700 | 
| Oborne/Clare  |               | 
| Thomas        |               | 
+---------------+---------------+ 
|               |               | 
+---------------+---------------+ 
| Arbuthnot     |               | 
| Securities    |               | 
+---------------+---------------+ 
| James         | 020 7012 2000 | 
| Steel/Antonio |               | 
| Bossi/Katie   |               | 
| Shelton       |               | 
+---------------+---------------+ 
 
 
 
 
Notes to Editors: 
KBC Advanced Technologies plc, a leading independent consulting, process 
engineering and software group, delivers improved operating performance to the 
oil refining, petrochemical, and other process industries worldwide. We provide 
process consulting, strategic planning advice, energy price forecasting and 
market analysis, economic studies, capital project services, and training to 
help clients achieve their business objectives and improve their competitive 
position. The KBC human performance improvement division provides organisational 
effectiveness services, training programmes, operations manuals, and personnel 
development services. Our consultants recommend changes for material and 
measurable improvements in profitability. To assist clients in realising such 
improvements, KBC provides implementation services and software solutions, 
including the KBC SIM models and Petro-SIM(TM) for process optimisation, and 
energy optimisation software packages. Formed in 1979, KBC has offices in the 
UK, USA, Canada, Singapore, the Netherlands, Russia, China and Japan. For more 
information, visit www.kbcat.com. 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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