Advanced Power Components gains on LED contract

10th Jan 2013 11:35

Advanced Power Components (APC) shares rose sky-high after the electronics supply specialist secured a contract to deliver LED lights to a major UK retailer.The company advanced 19.67% to 18.25p at 11:45 on the news its subsidiary Minimise was awarded a second order from an undisclosed retailer at a value of £2m. The contract covers preliminary product procurement and store survey costs.It follows last September's announcement of the successful completion of an order from the same store for 34 shops. Work for this contract is expected to begin in January."Being awarded a follow on contract from such a prestigious customer is particularly gratifying as it represents a big vote of confidence in the ability of Minimise Limited to deliver energy saving products and services successfully," Chief Executive Officer Mark Robinson,said."We are increasingly convinced that the growth potential for LED lighting and other green technologies is significant and that Minimise is well positioned to capitalise on the opportunity."RD