(AAT.L) AEA Technology PLC Buy/Sell

RNS Number : 6447A AEA Technology PLC 13 October 2009

AEA Technology plc

Trading Update

AEA Technology plc (AEA), a leading climate change and energy consultancy, is today providing a trading update ahead of its half-year results, which will be announced on 19 November 2009.

The Group has made excellent progress, with trading slightly ahead of management expectations. In Europe, despite tough market conditions, management has delivered a resilient performance. In the US, the performance has been strong despite delays in President Obama's stimulus money feeding through into the market.

Orders growth has exceeded 80%. In the US, there have been a number of significant wins. One of these positions AEA as a key interface between the US Federal Government and the private sector on energy efficiency. The Group continues to bid energetically in the US with a strong pipeline of opportunities and remains confident about maintaining good progress.

The Group continues to invest in business development. In the US, in particular, investment has been made in strengthening the business platform to provide the foundation for significant growth in the future. Management has already taken action in restructuring the European business in anticipation of further significant cutbacks in the UK public sector. Despite this a strong focus on cash has been maintained and the net debt continues to be in line with management expectations.

Going forward the Group enters the second half with 80% of revenue secured to meet management expectations. Prospects for the Group as a whole remain good with the US market, in particular, providing significant opportunity for growth going forward.

Ends

For further information:

Media

Madano Partnership

Matthew Moth 020 7593 4000

Investors

IR Focus

Neville Harris 020 7593 4015

This information is provided by RNS The company news service from the London Stock Exchange

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