Close
Company Search
Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up
Quickpicks
Add shares to your
quickpicks to
display them here!

Trading Update

21st Jul 2009 07:00

RNS Number : 9821V
Advanced Power Components PLC
21 July 2009
 



Date:  21 July 2009

On behalf of:  Advanced Power Components Plc ('APC', 'the Group', or 'the Company')

Embargoed until:  0700hrs

Advanced Power Components Plc

Trading Update

Advanced Power Components Plc (AIM:APC), the UK and specialist distributor and manufacturers' representative of electronic components, today provides a trading update for the year ending 31 August 2009.

Following the Company's interim results announced on 28 April 2009 and change in responsibilities within the finance function, the Board has completed a detailed review of its financial systems and controls and has undertaken a significant internal reorganisation to reduce overheads. The reorganisation has resulted in a one-off charge being incurred that will adversely impact the Company's net profit before tax for the full year by approximately £140,000, but which, once fully implemented, is expected to generate cost savings rising to approximately £40,000 per month from 1 September 2009.

In addition, in conjunction with the Company's auditors, Reeves and Neylan, the Board has completed its detailed review of the Group's processes and management reporting systems and has brought forward its review of year end provisioning, specifically including prudent bad debt and slow moving stock provisions. As a result of these reviews, the Company expects to incur a further charge to the profit & loss account of £250,000 in its year end results.

Accordingly, in the results for the full year ended 31 August 2009, the Company anticipates reporting a loss before tax in the region of £500,000.

The Board believes that the steps taken to reduce the cost base will place the Group in a much improved position to manage the challenges and opportunities facing it and provide a platform for an immediate return to monthly profitability, which the Board expects will continue into the next financial year.

Enquiries:

Advanced Power Components plc

Mark Robinson, Chief Executive Officer

01634 290588

www.apc-plc.co.uk 

Redleaf Communications

Samantha Robbins / Anna Dunkin / Henry Columbine

020 7566 6700

[email protected] 

Strand Partners

020 7409 3494

James Harris/ Angela Peace 

St Helen's Capital

020 7628 5582

Ruari McGirr

About Advanced Power Components

APC plc is a leading specialist distributor of electronic components, comprising eight areas of activity: 

APC Hi-Rel distributes a variety of specialist electronic components into applications where component reliability is of paramount importance. Hi-Rel's franchised product lines include power semiconductors, power supplies, memory, wound and high voltage components.
APC Locator is the number one solutions provider for obsolete and hard-to-find parts, with 25 years' experience in the industrial and defence/aerospace markets across Europe.
APC Hero has a specialist team of Product Managers ready to assist with your next design; our key areas include LEDS/LAMPS, drivers, wireless devices and modules, Zigbee, specialist sensors and crystals (plus fast turn around on programming).
APC Go! provides a kitting and materials management service to companies wanting to outsource non core activities, offering services ranging from material procurement to full production management.
APC Displays+ provides dedicated technical and commercial support for a wide range of LCD`s, standard, custom, TFT, e-signage, character, graphics, driver boards, IC`s, single board computers and all related connectivity.
APC Novacom is a distributor and manufacturers' representative for RF and microwave frequency electronic components. The business is managed by a team of technical specialists with many years experience in the RF and Microwave industry.
APC Contech is a distributor of specialist data input devices for industrial, broadcasting and medical sectors providing technically advanced solutions for specific application areas.
APC KVAR is a manufacturer and distributor of power saving equipment which optimises the performance of electrical motors, leading to reduced energy consumption and cost savings.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTPUUMWMUPBGQU

Related Shares:

APC Technology
FTSE 100 Latest
Value8,275.66
Change0.00