(Alliance News) - Scapa Group PLC on Tuesday said its first quarter performance is in line with board expectations, with growth in its Healthcare and Industrial units.
Shares in Scapa were up 3.5% at 171.40 pence in morning trade.
At its annual general meeting, Larry Pentz, chair of the bonding and adhesive-based products manufacturer, will announce 48% reported growth in Healthcare revenue and 4.5% in Industrial revenue. Total revenue growth for the quarter ended June 30 was 22% and 18% at constant currency.
On a continuing basis, Scapa revenue growth was 19% and on an organic basis, excluding its acquisitions of Systagenix and revenue from ConvaTec - which terminated its master supply agreement with Scapa in June.
"The integration and consolidation projects are proceeding according to plan and the company continues to seek additional opportunities to deliver long-term sustainable growth," Scapa said.
"The board considers Scapa to be well positioned to make further progress against its strategic objectives and remains confident in the group's outlook," the company added.
