KBC.L Regulatory News (KBC)

17 Jan 2008 07:00

KBC Advanced Technologies plc17 January 2008 Embargoed until 0700 17 January 2008 KBC Advanced Technologies plc ('KBC') Trading Update KBC, a leading consultant to the oil industry, today gives a trading update inrelation to the preliminary results for the year ended 31 December 2007 whichwill be announced on 18 March 2008. The strong trading experienced in the firsthalf of the year has continued as anticipated and we therefore expect the finaltrading performance to be in line with market expectations. In the second half of 2007 contract awards were around £21 million, giving atotal of £40 million for the year, an increase of 13% on 2006. As we enter 2008,the resultant order backlog is expected to be £30 million, an increase of 11% onthe prior year. In addition to strong trading, it is noteworthy that effective working capitalmanagement in the second half led to a year-end net cash position of £1.3million compared to the overdraft of £1.4 million at 30 June 2007. Market conditions in our industry remain strong with a high level of activity inthe oil refining sector and, consequently, robust demand for our services andsoftware. This underpins KBC's plans to continue growing additional capacity in2008. We start the year with a full first quarter order book providing a firmfoundation for the Board's expectation of further growth in 2008. - Ends - For further information please contact:KBC Advanced Technologies plc 01932 236314George Bright, Chief ExecutiveNicholas Stone, Operations and Finance Director Arden Partners plc 020 7398 1600Richard Day Weber Shandwick Financial 020 7067 0700Richard Hews / Rachel Martin / Hannah Marwood Notes to Editors:KBC Advanced Technologies plc, a leading independent consulting, processengineering and software group, delivers improved operating performance to theoil refining, petrochemical, and other process industries worldwide. We provideprocess consulting, strategic planning advice, energy price forecasting andmarket analysis, economic studies, capital project services, and training tohelp clients achieve their business objectives and improve their competitiveposition. The KBC human performance improvement division provides organisationaleffectiveness services, training programmes, operations manuals, and personneldevelopment services. Our consultants recommend changes for material andmeasurable improvements in profitability. To assist clients in realising suchimprovements, KBC provides implementation services and software solutions,including the KBC SIM models and Petro-SIM(TM) for process optimisation, andenergy optimisation software packages. Formed in 1979, KBC has offices in the UK, USA, Canada, Singapore, the Netherlands, Russia, China, and Japan. For moreinformation, visit www.kbcat.com. This information is provided by RNS The company news service from the London Stock Exchange