APC Technology PLC’s (LON:APC) components division has recorded one of its best half year perfomances ever despite a weak market backdrop.
Advanced Power Components’ bookings were £7.2mln, up 28% on last year, while February’s £1.8mln was the best ever recorded in a single month.
“Highlights include significant new orders for embedded computer boards with existing customers, together with a substantial follow-on order from a UK customer for a major export contract,” it said.
This represents a continuation of the strong first quarter, APC added.
The company has two divisions: components distribution and environmental services at the Minimise Group.
APC has also appointed Art Russell as chief financial officer (CFO). His last appointment was as CFO of a £250mln turnover international business that was eventually sold to a FTSE 100 plc.
Richard Hodgson, chief executive, said: "It is very reassuring to see the continuing recovery in the component distribution order book and the future cash flow stability that brings to the group.
“This follows on from a difficult 2015 in terms of bookings and shows the potential we have in that business with the products and customers we service. “