14 July 2011 – pre-close statement
The group has confirmed that the first half finished strongly, with June being the best month to date this year. Demand for the group’s energy management services remains high especially in Europe and the former Soviet Union. A decision is expected in the next month on the claim by a competitor that KBC had allegedly used certain software without permission and although KBC has denied this, it will cast a degree of uncertainty around the stock. Despite this we still rate the shares as a BUY.