The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksAPC Technology Regulatory News (APC)

  • There is currently no data for APC

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Trading Statement

16 Jul 2014 07:00

RNS Number : 4192M
APC Technology Group PLC
16 July 2014
 

APC Technology Group PLC("APC" or the "Group")

Trading Statement

 

APC Technology Group PLC (AIM: APC), is pleased to provide an update on its current trading.

 

The Group's energy efficiency business, which trades under the Minimise brand, has continued its focus on widening its client base and the Board is pleased to report that significant progress has been made in this regard.

 

In particular, the Company has received a letter of intent to enable it to begin the manufacture of LED lighting, which will be fitted into refrigeration units in around 500 stores operated by one of the UK's major food and clothing retailers over the next twelve weeks. This letter of intent, which has been issued to facilitate the start of production while Minimise is added to the customers approved supplier list, has an initial nominal value of £1 million and is anticipated to be part of a wider roll out of low energy lighting to this company in which the Group hopes to participate. The value of the overall project is expected to increase once the full site surveying process is underway.

 

In addition, the Board is pleased to report that Minimise is in the final stages of negotiations for orders with another six new and significant customers in various market sectors which, if placed, will generate significant growth and greatly reduce reliance on any one customer early in the next financial year. Orders are expected imminently from a number of these customers.

 

The Board also reports that it has signed a distribution and licensing agreement with Isotera Limited, a company which offers a unique 'contactless power' technology that removes the need for individual drivers for LED lights. This emerging technology is designed to reduce lighting infrastructure and installation costs while improving the reliability of LED based lighting systems. This agreement provides Minimise Energy with the rights to deploy the technology along with the Minimise brand of LED lights in the UK and in certain markets overseas and the Board is pleased to announce that initial orders have now been received.

 

The Board is also pleased to report that the Company's electronic component distribution business continues to perform in line with expectations.

 

Record shipments to Minimise's largest customer were made in the second quarter of the current financial year. However, due to the well-publicised reallocation of capital budgets at this customer, shipments ceased at the beginning of April and, whilst the Company expects them to resume in the coming months, it remains unclear as to the exact timing.

 

Overall, taking into account the positive impact that the broadening Minimise customer base is expected to have in the next financial year, the Board is pleased with progress to date and views the future with confidence. However, the short term reduction in shipments to our current largest customer, coupled with the fact that orders from new customers are being received a little too late to be fulfilled entirely in the current financial year, is likely to mean that revenues and profits for the current financial year will be below market expectations.

 

The Board continues to evaluate ways to expand the products and services provided to customers wishing to improve the overall sustainability and therefore the profitability of their organisations and looks forward to announcing further positive progress in due course.

 

Leonard Seelig, Non-Executive Chairman, commented:

 

"We are very pleased with the progress being made by our business. Recent customer wins, as well as the growing depth of our customer pipeline and new product enhancements more than offset the short term reduction in profitability, and we look forward to the future with confidence". 

 

 

Enquiries:

 

APC Technology Group plc

01634 290588

Mark Robinson, Chief Executive Officer

www.apc-plc.co.uk

Strand Hanson Limited (Nominated Adviser)

020 7409 3494

James Harris / Angela Hallett / Ritchie Balmer

Northland Capital Partners Limited (Joint Broker)

020 7382 1100

John Howes / Alice Lane

N+1 Singer (Joint Broker)

020 7496 3000

Andrew Craig / Ben Wright

Redleaf Polhill (Financial PR)

020 7382 4730

Rebecca Sanders-Hewett / David Ison

apc@redleafpr.com

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTKELFFZDFFBBE
Date   Source Headline
12th Sep 201412:13 pmRNSResults of Scheme Court Hearing
10th Sep 20149:16 amRNSForm 8.5 (EPT/RI) - APC Technology
9th Sep 20149:53 amRNSForm 8.5 (EPT/RI) - APC Technology Group Plc
8th Sep 20148:24 amRNSForm 8.5 (EPT/RI) - APC Technology Group plc
5th Sep 201411:57 amRNSResults of General Meeting
5th Sep 201411:08 amRNSResults of Court Meeting and General Meeting
5th Sep 20148:15 amRNSForm 8.5 (EPT/RI) - APC Technology Group plc
4th Sep 20147:43 amRNSForm 8.5 (EPT/RI) - APC Technology Group plc
2nd Sep 20147:55 amRNSForm 8.5 (EPT/RI) - APC Technology Group plc
1st Sep 20143:29 pmRNSExercise of Options & Directors Dealing-Update
29th Aug 20145:55 pmRNSReplacement - Form 8 (OPD) (Offeror - APC)
29th Aug 201412:02 pmRNSForm 8 (DD) - APC Technology Group
29th Aug 201412:02 pmRNSForm 8 (DD) - APC Technology Group
29th Aug 20149:49 amRNSForm 8 (DD) - APC Technology Group
28th Aug 20145:52 pmRNSForm 8 (DD) - Offeror
28th Aug 20143:30 pmRNSRule 2.10 Announcement
28th Aug 20147:55 amRNSForm 8.5 (EPT/RI) - APC Technology Group Plc
28th Aug 20147:00 amRNSExercise of Options and Directors Dealing
27th Aug 20148:24 amRNSForm 8.5 (EPT/RI) - APC Technology Group Plc
26th Aug 20148:32 amRNSForm 8.5 (EPT/RI) - APC Technology Group
22nd Aug 201411:47 amRNSForm 8.3 - Green Compliance Plc AMENDMENT
22nd Aug 201410:32 amRNSForm 8.5 (EPT/RI) - APC Technology
21st Aug 20144:50 pmRNSForm 8.3 - APC Technology Group PLC
21st Aug 20144:50 pmRNSForm 8.3 - APC Technology Group PLC
21st Aug 20144:50 pmRNSForm 8.3 - APC Tech Group PLC
21st Aug 20144:50 pmRNSForm 8.3 - APC Tech Group PLC
19th Aug 20144:22 pmRNSForm 8.3 - APC Technology Group PLC
19th Aug 201410:51 amRNSForm 8.5 (EPT/RI) - APC Technology Plc
15th Aug 201410:08 amRNSForm 8.5 (EPT/RI) - APC Technology
14th Aug 201410:00 amRNSForm 8.5 (EPT/RI) - APC Technology Group Plc
13th Aug 20149:21 amRNSForm 8.5 (EPT/RI) - APC Technology Group Plc
13th Aug 20147:00 amRNSFurther Irrevocable Undertaking Received
13th Aug 20147:00 amRNSPosting of Scheme Document
13th Aug 20147:00 amRNSPosting of Shareholder Circular
12th Aug 20146:28 pmRNSForm 8.3 - APC Tech Group PLC
12th Aug 20148:20 amRNSForm 8.5 (EPT/RI) - APC Technology Group plc
8th Aug 20148:43 amRNSForm 8.5 (EPT/RI) - APC Technology Plc
5th Aug 201411:38 amRNSForm 8 (OPD) (Offeree - APC)
5th Aug 20149:50 amRNSForm 8.5 (EPT/RI) - APC Technology Group Plc
4th Aug 201412:02 pmBUSForm 8.3 - APC Technology Group Plc
4th Aug 20149:44 amRNSForm 8.5 (EPT/RI) - APC Technology Plc
1st Aug 201411:24 amBUSForm 8.3 - APC Technology Group Plc
1st Aug 20147:00 amRNSNew Contract
31st Jul 20141:28 pmRNSForm 8.3 - APC Technology Group Plc
31st Jul 201411:57 amBUSForm 8.3 - APC Technology Group Plc
31st Jul 20149:06 amRNSForm 8.5 (EPT/RI) - APC Technology Group plc
30th Jul 20143:01 pmRNSForm 8 (OPD) (Offeror - GC)
30th Jul 20143:01 pmRNSForm 8 (OPD) (Offeror - APC)
30th Jul 201412:00 pmRNSRecommended Offer for Green Compliance plc
30th Jul 201412:00 pmRNSPreliminary Results

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.