20th Jan 2016 09:20
LONDON (Alliance News) - KBC Advanced Technologies PLC on Wednesday said its 2015 results are set to meet its expectations following a good second half.
The oil and gas industry software provider said it managed to restructure the business successfully over the course of 2015 and offset the margin deterioration it was facing amid the downturn in the oil and gas industry. The group also managed to diversify its consulting revenue in the year, including wins in the Middle East and Russia.
KBC said it enters 2016 with a strong order book in place, despite the ongoing uncertainty around the health of the oil and gas industry.
KBC is in the process of being acquired by US software company Aspen Technology Inc in a GBP158.0 million deal struck last week.
Shares in KBC were down 0.1% to 183.65 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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