17 Mar 2011 07:00
Date: | 17 March 2011 |
On behalf of: | Advanced Power Components PLC ('APC' or 'the Company') |
Embargoed until: | 0700hrs |
Advanced Power Components plc
Trading Statement
Advanced Power Components plc (AIM: APC), a specialist distributor and manufacturers' representative of electronic components, today announces a trading update for the six months ended 28 February 2011.
For the period under review the Board of APC expects revenues to be in the region of £6.5 million with a net profit before tax of approximately £100,000, compared with revenues of £6.5 million and a profit before tax of £42,000 for the corresponding period in the prior year. The increased profitability was the result of reduced administrative and finance costs as well as an improvement in profit margins compared with the second half of FY 2010.
Order intake during the period was strong with bookings in the period totalling £7.5 million and the order book standing at £4.5 million as at 28 February 2011 compared with £3.8 million as at 31 August 2011. The increased order activity has resulted from the steps taken by the Company to focus on customers at the early stages of their design cycle and from improving market conditions in a number of sectors.
The period also saw an increase in activity from the Company's imop™ energy-saving product range. A number of new distributors are now engaged in promoting the product in Europe and Asia with further distribution agreements currently under negotiation in key markets. Initial production orders are now being booked and feedback from end users has indicated that substantial energy savings are being achieved in the field. Although these orders are unlikely to have a material effect in the current year, the indication is that "green technology" activity will play an increasingly important role in future years.
The Company is also developing a number of additional opportunities which have the potential to significantly increase the Company's involvement in the rapidly expanding international green technology sector.
The Board is pleased with the positive momentum being generated and is cautiously optimistic that the progress made in securing orders within its traditional business and for the imop™ product range will result in growth in the near to mid-term.
The Company expects to release interim results for the six months ended 28 February 2011 at the start of May 2011.
-Ends-
Enquiries:
Advanced Power Components plc | 01634 290588 |
Mark Robinson, Chief Executive Officer | www.apc-plc.co.uk |
Rob Smith, Finance Director
| |
Redleaf Communications | 020 7566 6700 |
Samantha Robbins / Henry Columbine | apc@redleafpr.com |
Strand Hanson Limited | 020 7409 3494 |
James Harris/ Angela Peace | |
Northland Capital Partners Ltd | 020 7448 4400 |
Simon Miller |
Notes to Editors:
About Advanced Power Components
APC plc is a leading specialist distributor of electronic components, comprising eight areas of activity:
¡ APC Hi-Rel distributes a variety of specialist electronic components into applications where component reliability is of paramount importance. Hi-Rel's franchised product lines include power semiconductors, power supplies, memory, wound and high voltage components.
¡ is the number one solutions provider for obsolete and hard-to-find parts, with APC Locator 25 years' experience in the industrial and defence/aerospace markets across Europe.
¡ APC Herohas a specialist technical sales team focussing on sensors and measurement, power management, communications & connectivity and embedded computing applications.
¡ APC Go!provides a kitting and materials management service to companies wanting to outsource non core activities, offering services ranging from material procurement to full production management.
¡ APC Displays+ provides dedicated technical and commercial support for a wide range of displays, driver boards, ICs, single board computers and all related connectivity.
¡ APC Novacom is a distributor and manufacturers' representative for RF and microwave frequency electronic components. The business is managed by a team of technical specialists with many years experience in the RF and Microwave industry.
¡ APC Contech is a distributor of specialist data input devices for industrial, broadcasting and medical sectors providing technically advanced solutions for specific application areas.
¡ APC imop™is a manufacturer and distributor of power saving equipment which optimises the performance of electrical motors, leading to reduced energy consumption and cost savings.