SCPA.L Share News (SCPA)

Adhesive tape manufacturer Scapa returned to profit in the last year, reporting figures ahead of expectations.The firm posted pre-tax profits of £6.1m in the 12 months to the end of March, compared to a £5.2m loss the year before.Scapa, which supplies tapes for use in the medical, industrial, electronics and transport sectors, said revenue for the year was £192.3m, with strong year-on-year growth across all markets, particularly its medical division, which increased revenues 29%.The group ended the year with net cash of £18.8m, an increase of £7.4m on the year before.Chairman, James Wallace, said the company had taken significant steps towards sustainable and profitable growth, but said it was 'the beginning of the journey'."We have focused our efforts on improving the quality of our business portfolio toward higher value, application-specific products rather than high volume commodities," he added.-----mm