At KBC's AGM to be held at 3.00 pm today 23 May 2013. 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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