10th Mar 2014 11:46
LONDON (Alliance News) - APC Technology Group PLC Monday confirmed it was in advanced discussions to acquire a majority interest in a small specialist funding business, while also forecasting increases in pretax profit for the half year ended February 28.
The company said it expects to report sales for the half year of GBP12.1 million, up from GBP9.2 million in the previous year, and a pretax profit of at least GBP700,000, up from GBP47,000 in the previous year.
The company said its energy efficiency-focused businesses, which trade under the Minimise brand, saw continued growth in revenue through existing customers and new customers, including Network Rail.
As a result of this growth APC has continued to expand its energy efficiency-focused product offering, it said, recently establishing an energy efficiency consulting business called Minimise Solutions Ltd.
APC said that if successful with the acquisition being discussed, it would offer customers turnkey financing solutions for energy efficiency projects through a specially created subsidiary to be called Minimise Finance Limited. It didn't name the company.
APC said its electronic components business continues to trade profitability, although on a "marginally lower" revenue, APC said. Its associate company Invisible Systems Ltd secured business with FastNet, a subsidiary of Telcom SA Ltd, which APC Tech expects to lead to increasing revenues during the current year.
APC expects to announce its interim results on May 30.
Shares in APC were trading up 9.5% at 58.83 pence late Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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