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Trading Update

20 Jan 2016 07:00

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 £12m.

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
 
 
TSTUKARRNSAAAUR
Date   Source Headline
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10th Mar 201610:25 amPRNForm 8.3 - KBC Advanced Technologies
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4th Mar 201611:40 amRNSPosting of the Scheme Document
4th Mar 201611:12 amRNSForm 8.5 (EPT/RI) - KBC Advanced Technologies plc
4th Mar 201610:00 amRNSJohn Brice - Form 8.3 - KBC Advanced Technologies
4th Mar 20169:25 amRNSForm 8.5 (EPT/NON-RI)
3rd Mar 201611:01 amRNSForm 8.5 (EPT/RI) - KBC Advanced Technologies plc
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1st Mar 201610:46 amBUSForm 8.3 - KBC Advanced Technologies
29th Feb 201611:12 amRNSCourt Meeting and General Meeting Adjourned
29th Feb 20168:37 amBUSForm 8.3 - KBC Advanced Technologies
26th Feb 20169:48 amRNSForm 8.5 (EPT/NON-RI)

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