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KBC Advanced Technologies (AIM:KBC) – results in line, plenty of cash and record contracts

17/03/2015 · KBC Advanced Technologies (KBC) 

The leading consultancy and software provider to the global hydrocarbon processing industry announced results for the year to 31 December 2014 broadly in-line with estimates, although with the fund raise and acquisition in the period there are plenty of adjustments to the numbers!

Revenues were up 17% to £76.0m and adjusted profit before tax up 13% to £9.5m (2013: £8.4m).

Results were materially impacted by the equity fund raising of £23.1m, to fund acquisitions and provide working capital for larger contracts and the acquisition and integration of FEESA Limited.

The net result of the fund raising, coupled with prior period one-off tax credits, meant that basic earnings per share reduced to 5.7p (2013: 9.5p) and earnings per…

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