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SCPA SCAPA Group.........trying to breakaway from the base, currently up over 4% with a big seller which as held it back. Hoping seller as finished.
https://uk.advfn.com/p.php?pid=legacydaily&epic=L^SCPA&type=4&size=3&period=4&ind_type1=1&ind1_1=&ind2_1=&olx_1=3&ma_type1=3&o_1maday1=10&o_2maday1=&o_colour1=1&olx_2=3&ma_type2=3&o_1maday2=50&o_2maday2=&o_colour2=2&olx_3=3&ma_type3=3&o_1maday3=200&o_2maday3=&o_colour3=3&scheme=&delay_indices=DELAYED_INDICES
masks not related to covid I think.
Lifted from advfn.....
Scapa - Factories “essential business” status
108p Epic code: SCPA
(Sharewatch) • I have been watching Scapa (SCPA; 108p) for a re-entry point for some time. First time round on SCSW we did very well, tipping the shares in Nov‘11 at 47p and selling at 355p in Dec.’18.
Back in 2011, Scapa’s mainstay was industrial tape. These are tapes based on silicon, acrylic or other materials and fall into a range of applications where there is a need to attach, identify or protect something. Scapa’s portfolio ranges from masking tape, tape for identification of electrical wiring right through to tape for sticking a Peugeot badge on the grill of a car; tapes are usually sold under the brand of its OEM.
In 2008 the business came unstuck in the credit crunch nastiness. Almost overnight, when houses stopped being built and cars stopped selling, Scapa's distributors began to destock and against the background of a bloated cost base, debts ballooning and a large pension deficit, Scapa could easily have disappeared into the mists of time.
But it survived and under chief executive Heejae Chae, an old Volex-hand, Scapa was radically reshaped. Costs were cut and disposals of non-core parts made and Chae’s cool head approach was to transition the business into the higher margin and higher growth medical sector. The products that Scapa targeted were based on silicon gel eg. disposable adhesive pads for medical devices such as heart monitors that are attached to patients; transdermal patches, which slowly release drugs through the skin; and also advanced woundcare, making sheeting for plasters. Chae’s insight was to target turnkey or one-stop-shop packaged contracts, which landed big multi-year parcels of work. This culminated in three technology transfers of manufacturing assets. The biggest was Systagenix’s site in Yorkshire for £31.4m in 2018. It brought in a team of R&D scientists, a new microbiology lab and a dedicated gamma sterilisation facility.
But the deal pushed a rival’s nose out of joint (ConvaTec) causing it to abandon its own US$30m contract with Scapa. Scapa reacted by cutting its labour outgoings in a bid to mitigate the fallout and Chae reversed his earlier decision to retire in order to put out the fire. Scapa says it did no wrong and has filed for damages of US$83.8m.
On Numis’ forecast eps of 13.2p for the year just ended (Scapa says it has met forecasts) and 15.1p for the year started 1 April, the PE falls to 7.2, which is not demanding for a medtech outsourcer. All Scapa’s sites have been assigned “essential business” status, which means they are up and running. Maybe some sites could be repurposed to make masks. I don’t know when but somewhere up ahead there will be a big buy opportunity.
Volume gradually picking up.
Tipped in this weekends SCSW tip sheet. Ready for making masks ?.
SCPA starting to move up now.
https://uk.advfn.com/p.php?pid=legacyintra&epic=L^SCPA&type=1&size=3&period=a&freq=1&ind_type1=1&ind1_1=&ind2_1=&olx_1=3&ma_type1=3&o_1maday1=&o_2maday1=&o_colour1=1&olx_2=3&ma_type2=3&o_1maday2=&o_2maday2=&o_colour2=2&olx_3=3&ma_type3=3&o_1maday3=&o_2maday3=&o_colour3=3&scheme=&delay_indices=DELAYED_INDICES
I think you're right. Small retail purchases seem to drive significant price changes in this company.
However I'm holding rather than topping up. Scapa have now had three negative news items in the last few months and still have a high PE of 36. The next announcement had better be positive.
Talk about oversold and undervalued. An appropriate SP for this to have settled to would have been 230-240. As we see time and time again in this scenario this will drift back upwards over the next 24-48 hours