The UK's fastest growing regional news website
16°C | 8°C
16°C | 7°C
14°C | 6°C
See the full forecast for your area.
Sponsored by Britelite.
Home Medway News Article
An electronic components distributor is looking to expand into North America after reporting a 60% growth in revenue.
APC Technology, based in Rochester, saw its revenue increase to £21.6m in the year ending August 31, from £13.6m the year before.
Formerly known as Advanced Power Components, the company also saw its pre-tax profit increase dramatically to £4.5m from £29,000 in 2012.
Adjusted pre-tax profit also grew to £365,000 from £29,000.
As a result, the group has signed a joint venture with Minimise Energy Americas to expand into the USA, after completing a £3.9m acquisition deal with Minimise UK.
APC has completed a number of acquisitions, including a £750,000 deal with Cumbria-based Invisible Systems.
APC chairman Leonard Seelig said: “The year has been a period of transformational change and significant progress for the group, resulting in a far stronger offering and stability in the electronic components distribution business.
“Our product and geographic range has been expanded, our management team strengthened and our organisation structure simplified.”
Click here for more news from Medway.
Click here for more news from around the county.