KBC Advanced Technologies plc AGM Statement (3830F)

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RNS Number : 3830F

KBC Advanced Technologies plc

23 May 2013

Embargoed until 0700 hrs 23 May 2013

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.

"KBC has made a strong start to 2013 in both its consulting and technology operations.

Good progress has been made on the major four-year contract awarded in December 2012 by a large South American national oil company, with key consulting milestones being achieved. Several multi-year technology contracts have been agreed with international oil companies and we have also been successful in agreeing a material award of a managed services contract with a major oil and gas services company that embeds KBC's proprietary technology across its suite of upstream production software applications.

These developments are underpinned by the Group's continued focus on aligning its resources and the implementation of new management and incentive structures, all of which are designed to deliver profitable growth across the business.

The new contract awards, together with the strong order book at the start of the year and the new operational and cost initiatives, give us confidence in meeting management expectations for the current year as well as in the Group's longer term prospects.

We have today separately announced the appointment of Paul Taylor as a new independent Non-Executive Director of KBC and we have pleasure in welcoming him to the Board. Following this appointment we will be seeking to strengthen our Board further with another independent non-executive director."

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For further information, please contact:

 
  KBC Advanced Technologies plc 
  Ian Godden, Chairman                          +44 (0)1932 236335 
  Caroline Brown, Chief Financial Officer       +44 (0)1932 236335 
 
  Cenkos Securities plc 
  Bobbie Hilliam/Max Hartley/Callum Davidson    +44 (0)20 7397 8900 
 
  Weber Shandwick Financial 
  Nick Oborne/Stephanie Badjonat                +44 (0)20 7067 0700

Notes to Editors:

KBC is a leading consultancy and software provider to the global hydrocarbon processing industry. With over 30 years of experience, KBC combines industry leading technology with experienced engineers and operations personnel using robust methodologies to create personalised, sustainable solutions for its clients. For more information, visit www.kbcat.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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