(AAT.L) AEA Technology PLC Buy/Sell

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Oct 13 (Reuters) - British energy and environment consultancy AEA Technology Plc said its first-half trading was slightly ahead of its estimates and that its prospects remained good, with the U.S. market, in particular, providing significant growth opportunity, driving its shares up 8.6 percent.

AEA, which advises the private and public sector on implementing environmentally-sustainable policies, said it entered the second half of the year with 80 percent of revenue secured to meet its expectations. The company said there had been a number of significant wins in the United States and that it was confident of maintaining good progress as it continued bidding with a strong pipeline of opportunities. AEA also said it delivered a resilient performance in Europe despite tough market conditions and that it had taken action to restructure its 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," the company said. AEA shares were up 8.6 percent at 31.5 pence at 0716 GMT on the London Stock Exchange. (Reporting by Kumar Alagappan in Bangalore; Editing by Himani Sarkar) Keywords: AEATECHNOLOGY/

(kumar.alagappan@thomsonreuters.com; +91 80 4135 5800; Reuters Messaging: kumar.alagappan@thomsonreuters.com)

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