12th May 2010 15:00
12 May 2010
KBC Advanced Technologies plc
("KBC" or "the Group")
Trading Update
Although trading conditions in Asia and parts of the Americas have strengthened slightly during 2010, North America and Europe continue to be soft with significant structural issues in the refining industry. There has been a tendency for the sales process to be longer and the timing of contract awards therefore remains difficult to predict. The strong order book with which we started the year has cushioned the business somewhat from these issues.
With the full benefit of last year's cost savings of £2.8m being delivered this year, and our continued focus on cost reduction, we remain on track to meet market expectations for the year, though we expect that the results will remain weighted towards the second half.
-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/Antonio Bossi |
020 7012 2000 |
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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