APC Technology Share News (APC)

LONDON (Alliance News) - APC Technology Group PLC on Monday said it expects to deliver revenue and profit growth in its recently ended financial year.

The electronic products distributor said its financial year to the end of August has been transformational as it completed the roll out of its strategy and acquisitions.

As a result, APC Tech said it expects to report revenue and profit improvements. It also noted that its main growth drivers were increased bookings from existing technologies and bolt-on acquisitions. The company also said its earnings grew through the signing of new complementary product lines.

Meanwhile, net debt also reduced to GBP2.5 million from GBP3.1 million year-on-year.

The company had GBP800,000 in cash as at August 31, up from GBP400,000 it reported at the same period a year earlier.

"We have significantly increased the scale and profitability of the business and this means that we can offer an even greater value added service to our technology partners and our customers," said Chief Executive Richard Hodgson.

"We will continue to pursue our three faceted growth strategy of selling more of the technology and products that we have with our enlarged sales force, of signing new, proven technology partners and through strategic bolt on acquisitions," added Hodgson.

Shares in APC Tech were trading 3.9% higher on Monday at 7.27 pence each.