APC Technology Sees Strong Order Book And New Business Wins

LONDON (Alliance News) - APC Technology Group PLC on Wednesday said it has seen a continuing strong order book for its component division, as it won new contracts elsewhere in its business.

APC supplies and distributes electronic components, and energy efficient products and services.

The company expects to report its results for its financial half year to end-February on May 31.

In its component division year to date bookings to the end of April were GBP9.7 million, with a monthly average of GBP1.25 million, which APC said is a "significant increase" over run rates in previous year. It expects these bookings to translate into revenues in its second half and into the following financial year.

In its Minimise Energy business, APC signed a distribution deal with OMS Lighting Spol SRO for the UK, and in its Minimise Solutions business, a new long-term contract with an undisclosed UK financial services business.

"The progress that we continue to make throughout the group is significant and a direct result of the daily focus of our staff and their commitment to creating a growing and innovative business. The momentum represented by our component division order book, our new LED lighting product range that allows us to enter the wider lighting market, and the recognition of the intelligence that we offer clients through our Solutions business, puts us in a fantastic position to drive profitable growth across the group," said Chief Executive Richard Hodgson in a statement.

Shares in APC Technology were up 9.9% at 9.75 pence Wednesday morning.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

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