- Electrical component services company APC Technology Group posted a rise in annual profit after acquisitions boosted sales.

Pre-tax profit for the year through August rose to £0.6m, up from £0.2m on-year.

The acquisitions of First Byte Micro and Aspen Electronics helped drive a 10% rise in revenue to £17.1m.

Gross margin, before exceptional and non-recurring expenses, fell to 33.1%, down from 34.9%.

'2018 has been a transformational year for APC,' chairman Tony Lochery said.

'We have significantly increased the scale and profitability of the business and this means that we can offer an even greater value added service to our technology partners and our customers.'

'We will continue to pursue our three-faceted growth strategy of selling more of the technology and products that we have with our enlarged sales force, of signing new proven technology partners and through strategic bolt-on acquisitions.'

At 2:46pm: [LON:APC] APC Technology Group PLC share price was -0.5p at 6.63p

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