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12 Apr 2012 07:00
12 April 2012
Scapa Group plc
Period end update
Scapa Group plc (AIM: SCPA), a global manufacturer of bonding materials and solutions for the Industrial, Healthcare and Electronics markets, is today providing a period end update for the twelve months ended 31 March 2012.
The progress reported in the Interim Results has continued into the second half of the year. Following a good final quarter and with a solid contribution from WEBTEC, acquired in December 2011, operating profit* and profit before tax* are significantly ahead of last year and ahead of the consensus market expectation.
Our operating margin performance continues to improve, benefiting from our ongoing focus on the self help measures of higher quality revenues, efficiency and cost reduction.
Strong cash flow in the period ensured we ended the year with net cash of £6.7m, after the acquisition of WEBTEC for an initial cash consideration of US$30 million.
WEBTEC is a leading contract manufacturer and full-service converter, printer and packager of adhesive-backed medical devices that are distributed worldwide, which combined with our material expertise enables us to provide turnkey solutions to the Healthcare market. WEBTEC brings exciting new opportunities to the Group and the planned integration is proceeding well.
Scapa Group expects to report its full year results on 29 May 2012.
*before net exceptional gains
For further enquiries, please contact:
Scapa Group plc Heejae Chae - Chief Executive Tel 0161 301 7430
Scapa Group plc Paul Edwards - Finance Director Tel 0161 301 7430
Arden Partners Chris Hardie Tel 0207 614 5917
Weber Shandwick Nick Oborne Tel 0207 067 0700
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