5th Nov 2015 11:41
LONDON (Alliance News) - APC Technology Group PLC on Thursday said it has made "significant" progress with its operational review into the business, which aims to focus efforts on its profitable and cash-generative products and services.
The group said it has introduced detailed key performance indicators which are monitored, reviewed and acted upon on a weekly basis. It has also reviewed, renegotiated and improved, where appropriate, supplier relationships and pricing, and is ceasing or reorganising non-profitable, standalone products.
In order to provide working capital resources for the restructuring, APC has extended its GBP6 million invoice finance facility with ABN Commercial Finance to December 31, 2016, and also is reviewing central corporate costs, which it said will be kept to a minimum.
"The board believes that the measures already being implemented will provide a stable platform for profitable growth through both margin improvement and transactional sales delivery. Capitalising on the potential of existing products and services into existing customers will be our primary focus for the rest of this fiscal year," the company said in a statement.
"Longer-term we are confident of the growth opportunities in the markets in which we operate and with the products and expertise at our disposal. We will continue to build our solution sales capability to take full advantage of them," APC added.
Shares in APC were trading up 7.8% at 7.95 pence Thursday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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