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Advanced Power Components

  • BY: Andrew Hore |
  • POSTED: 15/10/2008 |

St Helen’s Capital says that last year’s acquisitions will boost this year’s profits of Advanced Power Components.

The specialist electronic components distributor recently replaced Seymour Pierce with Stand Partners as nominated adviser and St Helen’s Capital as broker.

St Helen’s Capital estimates that pre-tax profits will improve from £510,000 to £680,000 in the year to August 2008.

Last year’s acquisitions will add £4m of annual revenues and £425,000 of pre-tax profit. However, the first half’s trading of the rest of the group will be weak. There may also be some softening of margins.

At 13.5p a share, APC is valued at £3.01m.

St Helen’s Capital forecasts an increase in profits to £750,000 in this financial year.  Earnings per share will be lower than in 2007-08 because APC will start to pay tax. The shares are trading on just over five times estimated earnings for 2008-09. The net asset value is 21.9p a share. 

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