AGM Statement (3390G)

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RNS Number : 3390G

KBC Advanced Technologies plc

11 May 2011

KBC Advanced Technologies plc

("KBC" or "the Group")

AGM statement

At KBC's AGM to be held at 3.00 pm today Ian Godden, Chairman, will make the following statement.

"We are pleased to confirm that the stronger trading seen in the last quarter of 2010 has continued in the first four months of 2011 and progress has been in line with the Board's expectations.

Consulting activity has been solid in most areas, with particular demand for energy management work where we are experiencing some shortage of resource. The second tranche of Pemex projects, one of our major recent wins, started on schedule in April and the third tranche of projects is contracted to start in the fourth quarter of 2011.

Sales activity has been encouraging in several markets for both consulting and software. This includes Russia where we have been awarded two significant contracts in the last few months and are currently negotiating several others. The pipeline remains strong in all regions, despite the political changes in the Middle East and North Africa where there have inevitably been some delays and project cancellations.

The timetable for the arbitration process commenced by a competitor alleging infringement of its rights in certain software code continues as expected and we continue to refute all of the allegations made.

We look forward to continued success during the remainder of 2011 and anticipate that the Group's performance will continue to meet our expectations.

-Ends-

 
 KBC Advanced Technologies plc 
 George Bright, Chief Executive 
  Nicholas Stone, Operations and Finance Director      01932 236314 
 
 Weber Shandwick Financial 
 Nick Oborne/Stephanie Badjonat                       020 7067 0727 
 
 Cenkos Securities plc 
 Jon Fitzpatrick                                      020 7397 8900 
  Beth McKiernan                                      0131 220 6939

About KBC:

For 30 years KBC's consultants have provided independent strategic and engineering expertise to enable leading companies in the global energy business and other process industries to manage risk while maximising value from their assets.

In times of economic uncertainty and increasing environmental pressure, KBC's proprietary methodologies and innovative tools guide its clients' key strategic decisions, enabling them to prioritise and implement initiatives that maximise return on investment, and improve operational performance. KBC offers Strategic and Market, Capital Investment, Operating, Organisational and Environmental Solutions.

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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