KBC Advanced Technologies (AIM:KBC) decent results from the oil and gas outperformers
The leading consultancy and software provider to the hydrocarbon industry announced decent results for the six months ended 30 June 2015. This one continues to buck the trend of general misery across the oil and gas sector.
Revenue was up 5% to £36.2m broadly equally balanced across the Consulting and Technology businesses, with adjusted profit before tax up 3% to £4.2m. Technology revenues grew 6% to £8.9m with of which revenue from royalties and maintenance, support and upgrade revenue grew 23% to £5.3m. Consulting revenue in the period was up 5% to £27.3m. Since the period end they have announced a three year, US$8.5m contract to assist a major Middle Eastern client with margin improvement and workforce capability development and a multi-million dollar reliability and maintenance contract for a major Russian refining company. They continue to invest…