23 Jul 2019 07:00
23 July 2019
LEI No. 213800QIPVTK5ES5UU36
Scapa Group plc
AGM Statement
Scapa Group plc (AIM: SCPA) is holding its Annual General Meeting at 10:30am today. At the meeting, Larry Pentz, Chairman of Scapa Group, will provide the following update.
The Group's trading performance for the first quarter is in line with the Board's expectations.
Q1 Statutory Basis | Q1 Continuing Basis1 | Organic (excl Syst2 & CVT3) | ||||
Growth (Reported) | Growth (constant FX) | Growth (Reported) | Growth (constant FX) | Growth (Reported) | Growth (constant FX) | |
Healthcare Revenues | 47.8% | 41.5% | 40.6% | 34.6% | 7.9% | 3.5% |
Industrial Revenues | 4.5% | 2.8% | 4.5% | 2.8% | 4.5% | 2.8% |
Scapa Group Revenues | 21.6% | 18.4% | 18.7% | 15.6% | 5.6% | 3.1% |
The integration and consolidation projects are proceeding according to plan and the Company continues to seek additional opportunities to deliver long-term sustainable growth.
The Board considers Scapa to be well positioned to make further progress against its strategic objectives and remains confident in the Group's outlook.
1 Excluding IFRS 15 provision release. A contract liability provision was created as a result of the acquisition of Systagenix in line with the requirements of IFRS 15 and this is excluded on a 'continuing' basis as it represents a non-cash item. This provision will be released on a straight-line basis over a five-year period, in line with the exclusive supply contract
² Systagenix
³ ConvaTec
For further information:
Scapa Group plc | Heejae Chae - Group Chief Executive Oskar Zahn - Chief Financial Officer
| Tel: 0161 301 7430 |
Numis Securities Limited (Nominated Adviser/Joint Broker)
| Mark Lander, Richard Thomas | Tel: 020 7260 1000 |
Berenberg (Joint Broker)
| Chris Bowman, Toby Flaux
| Tel: 020 3207 7800 |
FTI Consulting (Media Relations)
| Brett Pollard, Victoria Foster Mitchell | Tel: 020 3727 1000 |
About Scapa Group plc
Scapa Group plc is a diversified Healthcare and Industrial company focused on bringing best-in-class innovation, design and manufacturing solutions to its customers.
Healthcare
Scapa Healthcare is the trusted strategic partner of choice for the world's leading companies in Advanced Wound Care, Consumer Wellness and Medical Device Fixation. We partner with the top global MedTech companies to develop and manufacture innovative skin friendly medical device fixation and topical solutions, from inception through to market delivery, from our state-of-the-art facilities.
For further information, please visit www.scapahealthcare.com
Industrial
Scapa Industrial is a global supplier of bonding solutions and manufacturer of adhesive-based products which offer meaningful value in industrial applications due to their lightweight, easy-to-apply properties. We are recognised for our unparalleled range of products, including adhesive tapes, films and foams, and we can engineer custom designs for even the most unique applications.
For further information, please visit www.scapaindustrial.com