17 Sep 2012 07:00
Date: | 17 September 2012 |
On behalf of: | Advanced Power Components PLC ('APC' or 'the Group') |
Embargoed until: | 0700hrs |
Advanced Power Components Plc
("APC" or the "Group")
Trading Statement and Significant Order from Major UK Retailer
§ Sales and profits in line with expectations
§ Significant progress in sustainability sector
§ £1.5m order for Minimise from major UK supermarket chain for LED lighting across approximately 40 stores
Advanced Power Components plc (AIM: PLC), a specialist distributor and manufacturers' representative of electronic components and smart, energy saving products, is pleased to provide an update on the Group's current trading and anticipated results for the year ended 31 August 2012.
After a challenging year the Group is expected to report sales and profits in line with current market expectations when its full year results are released in December 2012. Encouragingly, the net debt position is likely to be lower than that at the end of the previous financial year and the book to bill ratio in the distribution business improved considerably during the second half of the year. As a result the Group's order pipeline at the end of the financial year is similar to the levels at the start.
While the Group remains committed to growing its market share in the UK's electronic components distribution market, it has continued to invest strategically in an effort to establish meaningful growth in the sustainability sector. The Group now holds a controlling interest in both Minimise Limited and QV Controls Limited and is pleased to report that significant progress is being made now that a wide range of energy saving products and technologies is being offered in addition to the imop™.
We are pleased to confirm that Minimise is now in receipt of contracts for LED based lighting products from a major UK retailer. The initial installation contracts are for the replacement of existing fluorescent lamps with LED based alternatives in an initial 40 supermarkets and are expected to result in sales totalling £1.5m during the first quarter of the current financial year. LED lighting uses significantly less energy than traditional fluorescent lights and will help this customer reduce its carbon footprint. Accordingly, the Company believes that the strategic investments made over the last couple of years will start to generate a positive contribution to the Group starting in the first half of the current financial year.
Enquiries:
Advanced Power Components plc | 01634 290588 |
Mark Robinson, Chief Executive Officer Rob Smith, Finance Director | www.apc-plc.co.uk |
Strand Hanson Limited | 020 7409 3494 |
James Harris / Angela Hallett | |
Northland Capital Partners Limited | 020 7448 4400 |
Andy Hanson | |
Redleaf Polhill | 020 7566 6727 |
Henry Columbine / David Ison | apc@redleafpolhill.com |
About Advanced Power Components
APC plc is a leading specialist distributor of electronic components, comprising nine 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.
§ APC Locator is a leading solutions provider for obsolete and hard-to-find parts, with 25 years' experience in the industrial and defence/aerospace markets across Europe.
§ APC Hero has a specialist technical sales team focusing 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.
§ QV Controls Limited is a designer, manufacturer and supplier of DALI-IP technology based lighting and energy management systems that improve energy efficiency and lighting performance within commercial, industrial and high end residential buildings.
§ Minimise Limited is a distributor of energy saving products that include LED lighting, the imop™ and other technologies to both reduce demand for energy and generate electricity more sustainably.