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KBC releases 1H15 results

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Hydrocarbon Engineering,

KBC Advanced Technologies Plc has released its results for 1H15. The company’s highlights include:

  • Revenue y/y increase 5% to £36.2 million with consulting up 5% and technology up 6%.
  • Adjusted profit before tax increased y/y by 3% to £4.2 million.
  • Cost base reduced by around £3.5 million per annum with full benefit expected in 2H15.
  • Healthy pipeline of contracted work, up 17% y/y to £74 million at period end.
  • Demand for KBC’s operational excellence and profit improvement services is increasing in refining.
  • Senior leadership team enhanced, with appointment of CEO and recruitment of new CFO.

Ian Godden, Chairman of KBC, commented: "Early management action in 2015 to respond to the oil price fall, combined with an improving downstream refining market, resulted in a solid first half performance. These actions, together with the modernisation of KBC over recent years, led to a strong finish to the first half and good momentum into the second half, with early contract wins, higher consulting utilisation and good technology opportunities. Long-term client relationships in the downstream market are now delivering material contracts to the Group as that market segment looks to profit improvement initiatives.”

Edited from press release by

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