24September2018
APCTECHNOLOGYGROUPPLC ("APC"orthe"Company"orthe"Group")
PostYearEndTradingUpdate TheBoardofAPC,whichprovidesdesign,specificationanddistributionofspecialistelectronic productsandcomponents,arepleasedtoconfirmthattheunauditedfullyearresultsto31August 2018areexpectedtobeinlinewithmanagementexpectations.
Thefullyear2018resultswilldeliveranotheryearofgrowthinrevenueandprofit.2018hasalso beenatransformationalyearthroughtherolloutofourstrategyandtheacquisitionsthathave beencompleted. Thesepositiveresultshavemeantthatnetdebtattheendoftheyearisexpectedtobehave decreasedto£2.5m(2017:£3.1m)ofwhich£2.3m(2017:£2.5m)relatedtoamountsowedunder theGroup's£6minvoicefinancefacilitywithABNCommercialFinance.Cashattheyearendhas increasedandstoodat£0.8m(2017:£0.4m).
AspenElectronicsLimited("Aspen")IntegrationandtheenlargedGroup'sbookings TheintegrationofAspenisgoingverywellandtheenlargedGroupisalreadyprogressingondriving synergies.ItisworthnotingthattheenlargedGrouptookbookingsof£22.5mintheyearto31 August2018,representingahealthybooktobillratio.ThisrunratepositionstheGroupasa significantplayerinthedesignandspecificationdistributionindustry.
BusinessStrategy TheBoardremainsconfidentoffurtherrevenueandprofitgrowthin2019andremainscommitted totheCompany'sthreemaingrowthdrivers:growththroughincreasedbookingsfromexisting technologies,inparticularthosethatsitinhighgrowthmarkets;growththroughthesigningofnew complementaryproductlines;andgrowththroughtargetedboltonacquisitions.
RichardHodgson,ChiefExecutiveofAPC,commented:
"2018 has been a transformational year for APC. We have significantly increased the scale and profitabilityofthebusinessandthismeansthatwecanofferanevengreatervalueaddedserviceto our technology partners and our customers. We will continue to pursue our three faceted growth strategyofsellingmoreofthetechnologyandproductsthatwehavewithourenlargedsalesforce, ofsigningnew,proventechnologypartnersandthroughstrategicboltonacquisitions."
Enquiries
APCTechnologyGroupPLC +44(0)3303133220
RichardHodgson,Chief Executive MichaelThompson,FinanceDirector
www.apcplc.com
StockdaleSecuritiesLimited(NominatedAdviserandBroker) MarkBrown/AntonioBossi/EdwardThomas
+44(0)2076016100
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APC Technology Group plc published this content on 24 September 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 24 September 2018 15:18:06 UTC