8th Jul 2010 07:00
For Immediate Release
8 July 2010
KBC Advanced Technologies plc
("KBC" or "the Group")
Pre-Close Statement
KBC is pleased to announce the following trading update in relation to the interim results for the six months ended 30 June 2010 that will be released in early September.
We continue to expect the full year results to be in line with the Board's expectations. Since our statement in May we have seen evidence of an improvement in trading conditions and our consultant workforce is busier than at any time so far this year. Consultant utilization is expected to improve further as the year progresses. We have also taken action to further reduce our fixed cost base since the beginning of the year by an additional £1.3m in annualized terms that will deliver a net current year benefit of £0.4m.
June was our strongest month so far this year with £6 million of new awards, although contract awards during the first six months were slightly below those for the same period last year at around £23 million (2009: £24 million). The order book is expected to be around £40 million at 30 June, close to the level at the end of 2009.
The pipeline of sales contract opportunities remains strong and we continue to expect a stronger operational performance in the second half of the year.
-Ends-
KBC Advanced Technologies plc |
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George Bright, Chief Executive Nicholas Stone, Operations and Finance Director |
01932 236314
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Weber Shandwick Financial |
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Nick Oborne/Clare Thomas |
020 7067 0700 |
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Arbuthnot Securities |
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James Steel/Ed Gay |
020 7012 2000 |
Notes to Editors:
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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