APC Technology's first half profits and revenues grow

10th Mar 2014 07:12

APC Technology said it expects half-year sales to be 30 per cent ahead of the prior year after the computer manufacturer took on new major customers.Sales in the first half of 2014 are anticipated to come in at £12.1m, up from £9.2m a year earlier. Pre-tax profit is projected to be £700,000, compared to £47,000 in 2012. The group's energy efficiency-focused business achieved revenue growth as it secured an increase in orders from existing customers - including Morrisons Supermarkets, which has expanded its online offering - and new clients such as Network Rail.The pipeline of new potential business has increased significantly this year with progress made with a number of the blue chip organisations across a range of sectors in both the UK and North America.The company has also expanded with the establishment of energy efficiency consulting business, Minimise Solutions, which will help customers develop an effective energy management strategy. APC has confirmed that it is in advanced discussions to acquire a majority interest in a small, specialist, funding business which will offer turnkey financing services for energy efficiency projects through a specially created subsidiary, Minimise Finance. "It is anticipated that both of these businesses will provide additional routes to market and the opportunity for the group to broaden the scope of engagement with key customers, which will further develop the recurring revenues that the Group is now beginning to create," the firm said.APC's electronic components business continues to trade profitably despite on a marginally lower turnover.However, the firm said a number of recently awarded contracts from major customers has resulted in an increased order book, which "helps to underpin the business prospects for this division for the second half of the year".The group's associate company, Invisible Systems, secured business with FastNet, a subsidiary of Telcom SA, which is expected to lead to increasing revenues during the current financial year.RD