Advanced Power Components' subsidiary sees rise in contract value

AIM-listed Advanced Power Components' subsidiary, Minimise, has received an amendment to a contract order issued on January 9th, increasing the total value from 2m pounds to 4.1m pounds.

Both the original order and the amendment are for the provision of energy efficient LED lights to up to 80 store locations and follow the conclusion of initial site surveys for this project.

Advanced Power Components reported that further amendments to the order could be received when the site surveys and installations had been completed.

The board reported that it remained optimistic that Minimise would be well positioned to win further orders in the near future.

Mark Robinson, Chief Executive Officer of Advanced Power Components, commented: "The increase in order value reflects well on Minimise's professionalism in delivering contracts to established clients and the important role our LED lighting products are playing in helping customers meet their Carbon reduction commitments."

Advanced Power Components's share price was up 7.08% to 30.25p at 11:03 on Monday.

MF