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Advanced Power Components
- BY: Andrew Hore |
- POSTED: 21/07/2009 |
- COMMENTS: Add yours
Advanced Power Components says that reorganisation and restructuring costs will lead to a £500,000 loss in the year to August 2009.
Shares in APC fell 2.5p to 12p each, which values the electronic components distributor at £2.68m.
At the time of the previous trading statement in May, house broker St Helen’s Capital forecast a loss of £130,000.
A charge of £250,000 relates to provisions for bad debts and slow moving stock. A further £140,000 reorganisation charge should yield monthly cost savings of £40,000 a month from September 2009.
APC should be able to return to monthly profitable following these moves by management, although it depends on demand for electronic components which can be volatile.
There was net debt of £1.45m at the end of February 2009 but that figure should be reduced by the end of August 2009.
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