TIDMAPC

RNS Number : 1815R

APC Technology Group PLC

07 March 2016

7 March 2016

APC Technology Group PLC

("APC" or the "Group")

Strong H1 Divisional Order Book and Appointment of Chief Financial Officer

Component Division: Highest H1 order book for five years

Against a background that saw the UK component distribution market decline 3% in 2015, Advanced Power Components has achieved its best first half performance in terms of bookings since FY2011, with bookings for the period at GBP7.2m, up 28% on last year. Bookings of GBP1.8m in February were the highest ever recorded in a single month.

Highlights include significant new orders for embedded computer boards with existing customers, together with a substantial follow-on order from a UK customer for a major export contract.

This represents a continuation of the strong Q1 booking performance we reported in November 2015.

Appointment of Chief Financial Officer ("CFO")

The Board is pleased to announce the appointment of Art Russell as CFO for the Group. Mr Russell is an experienced CFO with over 25 years in senior finance positions, primarily in private equity across a diverse range of industry sectors. Prior to joining APC, Mr Russell was CFO of a GBP250m turnover international business, which he helped to manage from a private equity investment through to successful sale to a FTSE 100 plc.

Previous experience includes 10 years as Senior Vice President & CFO of a SME private equity investment firm in North America, responsible for all M&A activity, financing, and portfolio management. Prior to this, Mr Russell led finance for a private equity-backed international marine and fuel distribution company, joining the business after eight years at Deloitte.

Richard Hodgson, Chief Executive of APC Technology Group PLC, commented:

"It is very reassuring to see the continuing recovery in the component distribution order book and the future cash flow stability that brings to the Group. This follows on from a difficult 2015 in terms of bookings and shows the potential we have in that business with the products and customers we service. I would like to congratulate the staff in our distribution division who have worked incredibly hard to achieve this turnaround in challenging circumstances.

"I am also very pleased to welcome Art to the Group as our CFO. He brings with him a wealth of experience from his time working in diverse and larger organisations and I've no doubt he will make a major contribution to the professionalisation of the Group as we focus on cash generation, profit and growth."

Enquiries:

 
 APC Technology Group PLC             01634 290 588 
 Leonard Seelig, Chairman             www.apc-plc.co.uk 
  Richard Hodgson, Chief Executive 
 Cantor Fitzgerald Europe Limited 
  (Nominated Advisor and Broker)      020 7894 7000 
 Andrew Craig / Richard Salmond 
 Redleaf Communications (Financial 
  PR)                                 020 7382 4730 
 Rebecca Sanders-Hewett / David Ison / 
  Susie Hudson

This information is provided by RNS

The company news service from the London Stock Exchange

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