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Advanced Power Components
- BY: Andrew Hore |
- POSTED: 21/11/2007 |
- COMMENTS: Add yours
Electronic components distributor Advanced Power Components is well-placed to look for more acquisitions.
Revenues grew 51% to £9.74m in the year to August 2007. Last year’s acquisition Hero contributed a large part of that but there was also organic growth. Pre-tax profits almost trebled to £510,000.
APC’s specialist knowledge helps it supply niche and hard to get components to customers involved in the military, aerospace and transport. If APC can’t find the components it reverse engineers them. This area is growing rapidly and already accounts for one-fifth of the business. Chief executive Mark Robinson says that once APC gets enquiries it has a good record of turning them into business.
APC has just started a division to concentrate on supplying displays. Businesses from other areas of the group have been combined to form the new division.
The overall market isn’t strong at the moment and it is difficult to predict trading more than a few months ahead. However, APC has started the year well and demand for the hard to find components is growing. House broker Seymour Pierce forecasts an increase in profits to £800,000 in the year to August 2008.
At 29p, the shares are trading on eight times forecast earnings.
© 2007 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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