12 January 2012 – Trading Update

KBC Advanced Technologies’ year end trading update makes pleasing reading, with profits up over 20% over the year.

Consulting utilisation rates remain high at the start of 2012 and the company believe opportunities remain strong for the year. On the software side of the business the negotiation of several software licenses have extended into 2012. The company therefore expect a healthy level of software sales in the first half of 2012.

We continue to believe that on a rating of sub 10x it is worth tucking away. BUY