First half profits soar at Advanced Power

9th May 2011 10:47

Electronic components firm Advanced Power Components saw profits surge by 138% as a result of more closely-controlled operational costs.Pre-tax profit jumped to £100,000 in the half year ended 28 February, from £42,000 the year before."Profitability continued to improve within the core specialist electronic component distribution business where steps taken over the past two years to engage with customers earlier in their design cycle have led to a significantly strengthened order book," said chairman Will David.Revenue grew slightly to £6.52m, from £6.47m. Earnings per share tripled to 0.3p, from 0.1p.---BC