KBC Advanced Technologies plc Trading Update (3757M)
January 20 2016 - 2:00AM
UK Regulatory
TIDMKBC
RNS Number : 3757M
KBC Advanced Technologies plc
20 January 2016
Embargoed until 0700 hrs 20 January 2016
KBC Advanced Technologies plc
("KBC", the "Company" or the "Group")
Trading Update
KBC is pleased to announce the following trading update in
relation to the full year results for the 12 months ended 31
December 2015.
As expected, KBC had a strong second half year and the Board
anticipates that results for the year to 31 December 2015 will
therefore be in line with management's expectations. Cash and cash
equivalents at 31 December 2016 totalled GBP12m.
Following early action in 2015 to address the deteriorating
situation in the oil and gas market the company was able to reshape
and focus to deliver strong margins in Consulting and ensure a good
performance, against market headwinds, in Technology sales
including some notable new relationships such as the WorleyParsons
contract previously announced in October.
Consulting continued to deliver projects successfully and to
diversify its revenues, with notable wins in the Middle East and
Russia.
Whilst the significant recent oil and gas price pressures are
inevitably causing uncertainty across the hydrocarbon industry, KBC
is well positioned as it enters 2016 with a strong order book. Its
main business focus and expertise is the provision of profit
improvement for clients at a time when they need to operate their
assets more cost-effectively.
- Ends -
For further information, please contact:
KBC Advanced Technologies plc
Eric Dodd, Chief Financial Officer +44 1932 236314
Cenkos Securities plc
Bobbie Hilliam/Harry Pardoe +44 20 7397 8900
Weber Shandwick Financial
Nick Oborne/Tom Jenkins +44 20 7067 0000
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
END
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