APC Technology Group PLC Trading Update (3337R)
September 21 2017 - 2:00AM
UK Regulatory
TIDMAPC
RNS Number : 3337R
APC Technology Group PLC
21 September 2017
21 September 2017
APC TECHNOLOGY GROUP PLC
("APC" or the "Company")
Trading Update
The Board of APC (the "Board") is pleased to provide the
following trading update for the full year to 31 August 2017.
Results to 31 August 2017
The unaudited full year results to 31 August 2017 are expected
to show revenue of GBP15.6m (2016: GBP17.9m), gross profit of
GBP5.5m (2016: GBP6.4m), an operating profit before interest,
amortisation, depreciation and exceptional costs of GBP0.8m (2016:
GBP0.3m) and a profit before tax ("PBT") in the region of GBP0.2m.
This will be the Group's first PBT since the year ended August
2014.
These results reflect the commitment of the Board to deliver a
profitable business and to concentrate on activities where the
Group can create value and upon which APC can grow.
Net debt at the end of the year is expected to be GBP3.1m (2016:
GBP3.2m) of which GBP2.5m (2016: GBP2.7m) related to amounts owed
under the Group's GBP6m invoice finance facility with ABN
Commercial Finance.
Business Strategy
For three decades APC has built long-standing customer
relationships in hard-to-penetrate market segments including UK
defence, aerospace and oil and gas. For the last ten years, the
company has also enjoyed growth within financial, commercial real
estate and industrial markets.
Acting as a UK marketing, sales and distribution portal for
best-in-class rest of world component and system manufacturers, APC
creates value for its technology partners and end-customers through
its market and product knowledge, engineer-to-engineer technical
sales expertise and extensive experience managing import and
logistics requirements.
Brexit uncertainties serve to enhance APC's role in the supply
chain providing a crucial and stable link between rest of world
technology partners and UK manufacturers.
The Board believe that APC now has an impressive range of
technologies that sit in markets through which the Group can drive
profitable organic growth as a focused technical sales and
distribution business. Further growth will also come from extending
the range of technologies through the addition of new technology
partners.
Richard Hodgson, Chief Executive of APC, commented:
"It is greatly satisfying that last year's restructuring and
realigning of the business has resulted in the first profit since
2014. The business is now focussed on its core strengths in the
design, specification and distribution of high-value, high-growth
electronic components, products and systems and faces the future
with energy and confidence."
Enquiries
APC Technology Group PLC +44 (0) 330 313 3220
Richard Hodgson, Chief Executive www.apcplc.com
Michael Thompson, Finance Director
Stockdale Securities Limited (Nominated Adviser and Broker) +44 (0)20 7601 6100
Mark Brown / Antonio Bossi / Edward Thomas
This information is provided by RNS
The company news service from the London Stock Exchange
END
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