News blog
Advanced Power Components
- BY: Andrew Hore |
- POSTED: 30/11/2011 |
- COMMENTS: Add yours
Electronic components and energy efficiency products distributor Advanced Power Components reported strong profit growth last year but it is cautious about the outlook for 2011-12.
Even so, APC should be able to achieve further growth in profit this year and components distributed by the company are still being designed-in new products.
APC reported an improvement in revenues from £13.4m to £14.4m in the year to August 2011. There were some weak areas in the business but the majority of the activities performed strongly. Pre-tax profit jumped from £247,000 to £402,000, after digesting a £36,000 loss from QV Controls in the two months that the efficient lighting systems company was part of the group.
Net debt was £1.24m at the end of August 2011 and cash generated from operations will continue to reduce borrowings.
There is more positive news about imop energy efficiency product than there was in the more cautious trading statement in September. APC has case studies which show that the device does save electricity, while the University of Greenwich is validating the level of savings that can be achieved.
At 14.38p a share, APC is valued at £3.69m. The share price has risen by 57% in the past month. There was a relatively large amount of trading in the shares early in November - certainly more than at any time since March. The shares are trading on 12 times historical earnings.
The order book was strong at the end of September but there have been signs of softening trading since then. Management is still hopeful that trading will remain strong enough to improve profit this year.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFNovember2011_26.pdf
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