Scapa's profits to beat expectations

Adhesive tape manufacturer Scapa said that operating profits for the year ended 31 March are significantly ahead of the previous year and ahead of current market expectations.Shares rose by over a tenth on Wednesday."Consistent with the momentum highlighted at the time of our interim announcement the group's financial performance continues to improve," the statement said.Scapa remains debt-free with net cash growing to £18.6m at year-end, from £11.4m previously.