Make your money go further for just 25p per day

KBC Advanced Tech (LSE:KBC) - disappointing statement but reaction looks over the top

13/05/2009 · KBC Advanced Technologies (KBC) 

Shares in KBC Advanced Technologies, the AIM quoted consultants to the oil refining, petrochemical and process industries, got thumped today after coming out with a disappointing, trading update.

The group confirmed how capital projects in the oil refining industry were being reconsidered or scaled back which has slowed down the award of anticipated contracts.

Revenue for the first four months of this year is still running ahead of 2008 but the group’s higher cost base and unfavourable changes in the Euro/Sterling exchange rate, has reduced profitability.

The shares ultimately fell 29% to 32p with approx 276,000 shares changing hands.

Today’s announcement…

Sign up and read the full article

Register to continue reading our content.

Get FREE access now

Already a member? Login


Previous article Next article

DON'T MISS OUT!

Get top investment ideas to help safeguard and grow your wealth.

Invaluable insight from the exciting world of smaller companies.

REGISTER FREE

DON'T MISS OUT ON OUR PREMIUM CONTENT

Become a champion investor for just £90 a year. Benefit from our high performing portfolios:

START FREE TRIAL

More on KBC Advanced Technologies

KBC Advanced Technology (AIM:KBC) – takeover at big premium, look out for more like this

12/01/2016 · Company Insights
The leading consultancy and software provider to the hydrocarbon industry and a relative outperformer in the…

KBC Advanced Technologies (AIM:KBC) – strategic relationship and significant contract award

23/10/2015 · Company Insights
T​he leading consultancy and software provider to the hydrocarbon industry has announced a joint collaboration agreement…

More Company Insights

Elderly challenges | Demotion | Australian boost

21/11/2024 · Churchill China · CVS Group · Renold · Tracsis

Bonkers Bargains: poised to recover with a new CEO

20/11/2024 · James Cropper

Improving returns | Questionable business models

Sign-up to our free email updates

SIGN UP