KBC Advanced Technologies plc Trading Update

TIDMKBC

RNS Number : 4322M

KBC Advanced Technologies plc

20 January 2016

GENERAL TEXT AMENDMENT

The following amendment has been made to the 'Trading Update' announcement released on 20 January 2016 at 07:00 under RNS No 3757M.

'Cash and cash equivalents at 31 December 2016 totalled GBP12m' now reads 'Cash and cash equivalents at 31 December 2015 totalled GBP12m'.

All other details remain unchanged.

The full amended text is shown below.

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 2015 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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