LONDON (ShareCast) - Good demand from its aerospace and defence customers helped Advanced Power Components’ (APC) weather difficult trading to deliver a rise in interim sales and profits.

Pre-tax profits in the six months to 29 February climbed to £270,000 from £250,000 in the same six month period a year ago, as revenues climbed by £4.7m from £4.3m.

APC said its strong order book left it confident that it would achieve full-year pre-tax profits of between £675,000 and £725,000.

“This has been a solid first six months of the year for APC and demonstrates our ability to deliver a consistent and strong performance, despite the prevailing trading conditions that are affecting the market,” chief executive Mark Robinson said.

Speaking to Sharecast, he said APC’s concentration on providing electronic components to customers in sectors such as defence, aerospace, avionics and medical had helped it continue growing profits while its peers suffered.

“We don’t supply consumer goods and this has helped us avoid a downturn,” he said.

“Companies such as Abacus (also an electronic components supplier) have seen heavy falls in their share price, but we have managed to avoid this by focusing on the right areas and cutting costs.”

Cost cutting measures included reducing expenses such as phone bills and aggressively negotiating freight rates, Robinson said.

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