KBC Advanced Technologies closed 2011 in good style with a 20% hike in profits due to strong performance in its consulting business. The situation around license sales was not as strong - several sales expected to close in Q4 extended into Q1 - but are expected to close and provide a boost to Q1 license revenue. The elongation of negotiations has become a familiar trait as business react with caution to the poor economic outlook.
It has been a bit of a mixed year for the AIM-listed software and consultancy provider to the energy industry (see KBC: contracts up, but order book down and KBC points to stronger H2 demand). However, it ended the year (to December 31 2011) with c£5.5m in cash, compared to £2.6m at the half way point and £4.5m last year. Looking to 2012, it says its consulting prospects remain good.