13 March 2012 – final results

The energy industry consultancy group KBC has announced strong results for 2011, considering the tough trading conditions, with revenues rising by 5% to £55.7m and underlying pre-tax profit increasing by 20% to £5.9m.  Earnings per share on the same basis were 27% higher at 7.1p and the total dividend for the year rose to 2.5p.  Strong cash generation led to cash balances at the year end of £5.8m.  The new financial year has started well, with the group reporting high levels of demand for its services due to oil price volatility, increasing demand for oil in the developing world and pressure on oil refining margins where demand is lower.  Another good year is therefore in prospect and the shares remain a BUY.