News blog

Advanced Power Components

• BY: Andrew Hore |
• POSTED: 20/05/2013 |

Increased sales of LED lighting products has boosted revenues at Advanced Power Components (APC) but the profit benefits are only starting to show through.

In the six months to February 2013, revenues rose by one-quarter to £9.19m, while pre-tax profit improved from ££19,000 to £47,000. APC increased its interest in cleantech company Minimise to 51% at the beginning of the period and it was fully consolidated in the figures. The post-tax profit of £29,000 includes £22,000 attributable to non-controlling interests. This suggests that the other operations lost money although it is stated that the electronic components distribution operations were profitable, although presumably that is before the finance costs of £72,000.

Previously reported contracts with a UK retailer are behind the strong performance of Minimise and there is more to come in the second half. APC plans to make further investments in the cleantech sector.

Net debt was £1.73m at the end of February 2013.

At 32.25p a share, APC is valued at £9.8m. 

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFMay2013_44.pdf