Advanced Power Components posts rise in half-year profit

Advanced Power Components said a 25 per cent rise in half-year revenue was driven by the group's diversification in the cleantech sector.

Advanced Power Components said a 25 per cent rise in half-year revenue was driven by the group's diversification in the cleantech sector.

Revenue for the six months to end of February came to £9.19m, up from £7.33m the previous year.

Pre-tax profit rose to £47,000 from the prior year's £19,000 as the company gained from continued momentum in the cleantech market.

"Despite difficult market conditions that continue to affect the traditional business, the group has made marked progress in the first half of 2013," said Chief Executive Officer, Mark Robinson.

"The increase in revenues is promising and I am pleased to report that we are already seeing a sizeable return on the investment we have made into clean technology products and services."

During the period, the firm acquired Minimise Energy and Cero UK. Cero was then merged into Minimise Energy.

Minimise achieved strong performance, encouraging the group to increase its overall investment in the cleantech sector.

"The board is committed to continuing to pursue opportunities in the cleantech sector, and remains confident that it is the right strategy to ensure the group continues to deliver growth to shareholders and builds on the successes it has already achieved," Robinson added.

"We have a strong pipeline going into the second half and I look forward to updating the market on further developments in due course."

Shares fell 3.01% to 32.25p at 16:08 Monday.

RD

Recommended

How to profit from India’s high-tech recovery
Share tips

How to profit from India’s high-tech recovery

Professional investor David Cornell of the India Capital Growth Fund, selects three of his favourite Indian stocks to buy now.
27 Sep 2021
Share tips of the week – 24 September
Share tips

Share tips of the week – 24 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
24 Sep 2021
Three strong Asian stocks trading at bargain prices
Share tips

Three strong Asian stocks trading at bargain prices

Professional investor Nitin Bajaj of the Fidelity Asian Values investment trust picks three stocks that dominate their industries, earn good returns o…
20 Sep 2021
Why it pays to face up to your investment mistakes
Investment strategy

Why it pays to face up to your investment mistakes

Buying stocks can be a complicated business. But selling stocks can be tricky, too – even if you sell for the right reasons. Max King explains how to …
17 Sep 2021

Most Popular

A nightmare 1970s scenario for investors is edging closer
Investment strategy

A nightmare 1970s scenario for investors is edging closer

Inflation need not be a worry unless it is driven by labour market shortages. Unfortunately, writes macroeconomist Philip Pilkington, that’s exactly w…
17 Sep 2021
What really causes inflation? Here’s what prices since 1970 tell us
Inflation

What really causes inflation? Here’s what prices since 1970 tell us

As UK inflation hits 3.2%, Dominic Frisby compares the cost of living 50 years ago with that of today, and explains how debt drives prices higher.
15 Sep 2021
The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021