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14 Jul 2011 07:00
14 July 2011
KBC Advanced Technologies plc
("KBC" or "the Group")
Pre-Close Statement
KBC is pleased to announce the following trading update in relation to the half year results for the six months ended 30 June 2011 that will be released in mid September.
Since our statement in May the positive trends we highlighted at the time have continued and June was the strongest month of the year to date in terms of utilisation and new business awards. Demand for energy management services remains very high, particularly in Europe and the Former Soviet Union. Several key software licenses were also renewed during the last quarter. Contract awards for the first six months of the year were around £23.5m, up from the £23.1m for the first half of 2010. The order book is expected to be around £56m at 30 June, compared to £58.7m at the end of 2010.
The arbitration process commenced by a competitor alleging unauthorised use of certain software code, which has been fully refuted by KBC, is now largely complete with the arbitrator's award expected within the next month.
Consultant utilisation is expected to remain high throughout the remainder of 2011, benefiting from the third wave of the Pemex project that is scheduled to commence in the final quarter. The pipeline of sales opportunities remains strong and we expect a stronger operational performance in the second half of the year. We continue to anticipate that the full year results will be in line with the Board's expectations.
-Ends-
KBC Advanced Technologies plc | |
George Bright, Chief Executive Nicholas Stone, Operations and Finance Director | 01932 236314
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Weber Shandwick Financial | |
Nick Oborne/Stephanie Badjonat | 020 7067 0727 |
Cenkos Securities plc | |
Jon Fitzpatrick Beth McKiernan | 020 7397 8900 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.
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