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Share Name Share Symbol Market Type Share ISIN Share Description
Apc Technology LSE:APC London Ordinary Share GB0000373984 ORD 2P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 6.375p 178,412 08:00:00
Bid Price Offer Price High Price Low Price Open Price
6.25p 6.50p 6.375p 6.375p 6.375p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electronic & Electrical Equipment 17.15 0.56 0.50 12.8 11.5

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Date Time Title Posts
16/1/201914:52APC Technology PLC set for growth on profits.1,088
10/1/201618:50Advanced Power Components - 2007 Onwards1,224
19/11/201501:10Loverat's Anti- PC Thread4,392
22/1/201510:19APC The Future and energy preservation28
25/11/201320:27apc looks like being a good week for acp -

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Advanced Power Components Daily Update: Apc Technology is listed in the Electronic & Electrical Equipment sector of the London Stock Exchange with ticker APC. The last closing price for Advanced Power Components was 6.38p.
Apc Technology has a 4 week average price of 6p and a 12 week average price of 6p.
The 1 year high share price is 8.38p while the 1 year low share price is currently 6p.
There are currently 179,883,988 shares in issue and the average daily traded volume is 23,587 shares. The market capitalisation of Apc Technology is £11,467,604.24.
rinson: GHF. Only fanciful because current share price is based on expected F18 performance rather than forward looking as is the norm. This situation may change once the results appear if they are in line with forecast as we are led to believe. If that happens we could see, based on current broker forecast of £1.64 PBT, a share price anywhere up to 14p if no further dilution. Supposing APC needed to raise another £2m for further acquisition then the 14p would fall to 12p but still an immense gain over the current share price Everyone is being cautious over Brexit but if it is to be a hard landing I believe a lot of US component companies who have appointed European distributors HQ'd in mainland Europe will need an independent UK distributor to ensure supplies to UK manufacturers continue without increased cost through duty charges. That would be quite an opportunity for someone.
harrogate: We all know life is tough at the moment - there is Brexit uncertainty and the general level of job insecurity and the worry about pension planning never mind the worry about what will happen to the world that our children have to live in going forward with the increased global threats from rogue states etc etc One of life's pleasures is to follow your investments and see what is being said and when you see there has been a post on ADVFN you get excited. Is there a post with some useful background information on the company or the market that may help us with our investing for example Then you see the post has been made by Ron Wilkes and the excitement level rises further - the fingers tremble on the keyboard - what can he have to say that will help us all in our investing, what incisive comment has he got today. It is all too much - today he has told us that until the share price goes up it will stay the same. Hard to state just how excited I am about the next post. Thanks
insider6: Good news from Solid State today, a company I know quite well and believe to be very similar to APC especially with their electronic component distribution arm. According to the APC RNS 24/9/18 sales in the year ending 31/8/18 are expected to be in line with management expectation. Although we do not know what management expectation really is I doubt it will be less than the figure mentioned in Stockdale’s recent analyst’s note £17.5m. This figure displays reasonable organic growth considering the FBM acquisition was at the beginning of H2 and will probably not contribute more than £700k to the total sales for F18. Aspen as yet is still an unknown factor but I doubt their sales contribution will have been more than £500K at best. The RNS also reported that total orders received in the year were £23.5m which represents extremely solid growth over the half year figure of £9m, in fact 161% to be precise. Obviously Aspen have contributed to this number but the fact is APC have demonstrated they are well on the way to achieving their stated desire to achieve annual sales of between £50m and £75m in 3 to 5 years (RNS 25/7/18) and with further acquisitions those figures may yet prove to be conservative. A few caveats from F17 results announcement RNS 5/12/17 to support my viewpoint. ‘Lighting for Facilities Management. APC Lighting has delivered £750k of lighting in the last six months to a leading property management company across three of the several thousand facilities that they manage. This has been achieved since signing a new preferred supplier agreement in June 2017. The current quoted pipeline is a further £2.5m across what is still a small percentage of the remaining estate.’ ‘APC Time. New financial legislation, MiFID II, which comes into force in January 2018, has provided a boost in sales for APC Time, providers of time and frequency synchronisation. Under the new requirements, financial institutions and those involved in high frequency trading must comply with stricter limits for the time stamping of transactions. Significant orders have come from the London operation of a major French bank and an American multinational finance company.’ High-Reliability Electronics (trading as APC Hi-Rel) provides the technical sale of high-reliability, high temperature and high voltage electronic components into the defence and aerospace markets. APC represents a range of manufacturers in the UK market and works on projects that can run for 3 to 5 years. With these long projects, future bookings are a good measure of success. In the financial year 2017, bookings were £7.1m, which is a 34.6% uplift to 2016 total bookings.’ Well, as yet we have no breakdowns to compare if these impressive opportunities were capitalised on but the £23.5m orders came from somewhere. IMHO, in the world of Electronic Component Distribution APC is one of only a handful of Electronic Component Distributors in the UK that efficiently orchestrates sales on behalf of manufacturing principles. They are not the only ones but well up in the league table. The components they sell are best in class in quality and reliability and as such it was no surprise that they were recognised in the top 2% of suppliers to BAE at their Partner 2 Win symposium in the USA 6/3/18 (RNS 19/3/18). Dealing with companies like BAE formulates a culture within a company and I am sure this has been put to use in all divisions of APC and in their stated intention to expand further through synergistic acquisitions. APC’s stockbroker has a current target for the share price of 12p. I believe this is fair at this moment in time and that anyone buying today will reap excellent rewards in the future should the Companies projections be met. Certainly over the last year there is no reason I can see that they will not.
glasshalfull: Couldn’t agree more playful. Delighted that Roger is a buyer & it certainly puts to bed any notion that his shareholding was an overhang over the share price. As you say, this a big vote of confidence in the strategy employed by Richard Hodgson & his team. Kind regards, GHF
glasshalfull: Evening guys Received another series of email alerts to the posts on APC & yet again I find ronwilkes123 the protagonist. Made me chuckle...especially as I kindly responded to this posters continual negativity & speculation on poor trading by detailing the company communication on trading over the last year, providing forecasts & answering queries. Then, when a positive statement arrived it was interesting to see Ron disappear when the share price climbed +10% & also when politely asked on how he arrived at a 5p price target & was this still valid? We have some small selling today (£5,000 worth) & funnily enough Ron pops back. Hmm??? Well Ron, I welcome those investors/ posters with an alternative view on a company as they help one to evaluate the investment case. Opposing views make a market...but posters such as yourself just suck the life out of investment threads & hence more and more investors are turning away from contributing as they have to wade through countless garbage posts. Best way to solve this... ronwilkes123 (Filtered) Kind regards GHF
glasshalfull: Afternoon Ron, In answer to your question I’d appreciate a t/s & certainly wasn’t implying there wouldn’t be an update. Just attempting to place another perspective on a flurry of posts that were questioning some small selling of the stock & suggestions that company performance was poor. Think you placed a 5p price on the stock & I’d be interested on any analysis you care to share on how you arrived at this price, especially when investors stumped up £2.5m @ 6.75p only 8-weeks ago? As for prompts to share price improvement. Since the t/s on 21.09.17 for the FY last year there have been quite a few updates on trading. Certainly more than 2 per annum: - 05.12.17 - Results & confirmation of in-line trading 11.01.18 - Acquisition of FB & confirmation of in-line trading 22.02.18 - AGM update. Pleased with start to FY18 19.03.18 - Notice of results & business update 17.04.18 - H1 results & outlook (strategy) 03.07.18 - Positive update on FB acquisition(+33% increase order run-rate) 25.07.18 - Placing & confirmation of in-line trading Not to forget they took the opportunity to speak with investors over the course of a full day & also to present at Mello 2018 (Derby) at the end of April 2018. In summary, I feel they have been good in updating investors & the market. The RNS updates I’ve listed certainly confirm this. Your query as to what will prompt the share to rise is down to the company performing as per the forecasts I described in my previous post. If they deliver the earnings growth Stockdale estimate... then the share price will take care of itself. All IMHO as always. Kind regards, GHF
this_is_me: I'm just glad that I didn't buy my small holding in 2013 when the share price was around 70p. If I had I wouldn't have thought of my glass being half full, more like useless in the current weather conditions! I bought mine 2 years ago and didn't realise that the jam tomorrow was going to be red not blue.
rivaldo: Hi GHF. I had a small introductory holding here, but have bought quite a few more this morning. Today's news is excellent, and summarised beautifully as always in your above post. I see Stockdale have increased their target price to 12p (from 10p). And their forecasts going forward have increased to: 2019 - 0.75p EPS 2020 - 0.86p EPS On which basis today's share price looks rather cheap.
jpuff: It would be nice to see a rise in the share price if all is so rosy after three years of stagnation. I seem to recall that I bought in yonks ago on the back of Investors Champion recommendation but they hardly ever mention the company these days :(
glasshalfull: APC Courtesy to mention that I've been a buyer in APC. It's been harder to find value in the market recently as momentum trading appears all the rage, but I've been suitably impressed with the drive & ambition of the new management team & hope this proves to be a rewarding long term investment. Background APC is a well established company of over 35 years. The share price reached the heady heights of 68p in November 2013.... & it's been downhill ever since, with the shares bouncing off 5.75p in June 2017 - fingers firmly crossed this was the low! This followed a couple of placings to shore up the balance sheet over recent years with the current share price of 6.75p equates to a market cap of £8.8m. At the end of H1 2017 net debt stood at £2.9m at (28.02.2017) for an EV of £11.7m. The company had plenty of headroom as the £2.9m net debt comprised £2.5m drawn on invoice finance facilities (£6m facility), £0.6m of loan notes (due July 2018) and £0.2m cash. While I would prefer the balance sheet to be stronger, the new team appear to have turned the business around & have slashed costs by over £2m on an annualised basis. Indeed, the H1 2017 results marked the first glimpse of a new dawn that followed change amongst most managerial positions. This concluded an extensive 18 month restructuring period which included the disposal of a loss making business & progress on refocusing the company. H1 2017 results highlighted the company delivering a pre-exceptional operating profit of £0.4m on turnover of £8.3m. Gross margin was 34% with net debt reduced by £0.3m. So, why invest now? Well apart from the first sign of a company turnaround & buying at what I hope is close to a low (share price is on its knees) my attention was first drawn to the stock when I noticed that a well respected PI had taken a notifiable stake in the company (>3%). I also noted the share register included notifiable holdings with the likes of Bob Holt at 3% (Chairman of Mears Group); Mark Blandford via Rockridge Investments now at 11.4% (Sportingbet founder); the savvy small cap investors Hargreave Hale now at 16.6% & Octopus at 6.6%. Quite an enviable list for any small cap company. The CEO, Chairman and some other notable investors recently subscribed for shares in the company. They invested £125k & £250k into APC during March & May 2017 respectively (at 6.75p), thus showing their confidence in APC while boosting the balance sheet at the same time. I've subsequently spoken at length with APC & v impressed with CEO Richard Hodgson who I believe is implementing the steps that will lead the company into a period of sustainable profitable growth. What do APC technology do? "APC Technology Group PLC provides design, specification and distribution of specialist electronic components and systems, lighting technologies and connectivity products to the defence, aerospace, industrial, real estate, logistics and healthcare sectors." They describe themselves as a “design in” distribution business focused on the high end electronic components sector alongside a division delivering LED lighting. HTTP:// In English, my understanding is that APC's engineers engage with their UK customer base to "design in" the products that are supplied by a distribution base that comprises companies from throughout the world. We are talking product lines where the, "end-use equipment is operating in extreme conditions or is running applications where component failure would be catastrophic." Think power components for the military or aerospace or....the ExoMars Trace Gas Orbiter launched from Kazakhstan by the European and Russian Space Agency in 2016 that used the DC-DC converters supplied by APC. HTTP:// The companies (suppliers) that APC distribute on behalf of may be small in size or operate in niche markets which negates the need for a UK distribution & admin base. In other words, APC provides a number of value-added functions that not only includes the supplier with an end market to sell into, but also the addition of value added services such as the modification or design-in of the products supplied to meet the end customers requirements. It may also include the provision of an admin, importation & logistic function to assist the supplier e.g. the UK defence & aerospace market is highly regulated & requires accreditation and certification which APC can progress & gain on behalf of the supplier. Worth mentioning that the company may be a beneficiary of BREXIT as the complexities of dealing with the UK end user market of the UK may be more problematic for ROW companies without a UK base or specialised distributor like APC In the 2016 Annual Report the company indicated exclusive distribution agreements with over 60 manufacturers of electronic components and systems for the UK market. This included components for flight critical systems, power distribution in civil aircraft, high voltage components for power supplies, custom filters for harsh environments, satellites and space exploration, transportation and hybrid vehicles and extreme temperature oil and gas components. The following presentation from April 2017 provides a summary of the APC proposition & their addressable markets in p4 & p5. HTTP:// Where is growth coming from? As mentioned APC are an established company with c.£18m turnover per annum via a number of longstanding suppliers and end customers. With the cost base realigned (£2m costs removed on annualised basis) the company is now profitable & indicated during its release of H1 2017 results that March 2017 bookings stood at £2.1m and hopefully operational gearing should now be emerging. The first signs of the growth strategy emerged in the RSN Reach released last week with the appointment of a Business Development Director & securing 3 new distribution agreements in RF & Microwave and also High Reliability products. Worth mentioning some other snippets, such as their launch of APC Smartwave last year to provide Internet of Things (IoT) products. APC also highlighted via their web site the growing requirement of companies to meet MiFID II legislation by the Jan 2018 deadline & the increasing focus on subsidiary APC Time's relationship with supplier Meinberg to meet the requirements. HTTP:// Forthcoming trading update? I believe that the company may issue a trading statement in the near future in respect of the 2017 year end which occurred last week (31.08.2017). Any update will hopefully confirm the progress highlighted in the interims, indicating the business both stable & profitable, while confirming the growth drivers in 2017/18. If APC can drive growth, maintain gross margins of c.35% & generate cash, then with operational gearing kicking in I don't believe it fanciful to think that APC could generate profits of £1m+ EBIT moving forward. Such performance would bring the company into sharper investor focus, although it looks as if a number of focused investors have already taken positions. Well, I hope that proves to be the case!!! Disclosure I have a modest holding. Please DYOR Kind regards, GHF
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