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Advanced Power Components

  • BY: Andrew Hore |
  • POSTED: 03/12/2012 |

Energy efficiency products and electronic components supplier Advanced Power Components reported a slump in full year profit but the outlook is better for the current year.

Revenues were 5% lower at £13.6m in the year to August 2012 and this led to a slump in pre-tax profit from £402,000 to £29,000. The fall in profit was exacerbated by investment in the energy efficiency operations.

Net debt was £1m at the end of August 2012.

APC has increased its stake in energy efficiency company Minimise Ltd was increased to 51% after the year end. This means that its figures will be consolidated this year. There was a £10,000 contribution from Minimise in the year to August 2012. This year will benefit from the LED lighting supply contract with a UK supermarket group completed in recent weeks plus further contracts that are expected to be secured in the coming months.

The parent company is changing its name to APC Technology Group. There will be two main subsidiaries with one holding company for the electronic components activities and another for energy efficiency operations.

At 13.75p a share, APC is valued at £4.18m.

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