KBC Advanced Technologies (AIM:KBC) – reassuring update…from energy services Surprise!
The leading consultancy and (more interestingly) software provider to the global hydrocarbon processing industry issued a reassuring trading update for the year ending 31 December 2014 hinting that it could possibly be a beneficiary of the recent oil price sell-off.It certainly looks better positioned than most!
The Group had a strong second half year and anticipates that results for the year to 31 December 2014 will therefore be in line with management expectations – forecast pre-tax profit of approx. £9.2m and eps of 7.42p. Technology revenues grew significantly to record levels for the year, assisted by the acquisition of FEESA in July 2014. Major achievements in the year include the seven-year contract with a major oilfield services company for the licensing of KBC’s upstream simulation portfolio as well as several significant software contracts in Asia. Consulting also continued to deliver successfully in South America winning a…