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11 Oct 2017 07:00
11 October 2017
Scapa Group plc ("Scapa" or "the Group")
Period end update
Scapa Group plc (AIM: SCPA), a global supplier of bonding solutions and manufacturer of adhesive based products for the Healthcare and Industrial markets, is today providing a period end update for the six months ended 30 September 2017.
Group revenue, trading profits* and margins are all ahead of last year. Results include the benefit from currency against the equivalent period last year, and a full contribution from Euromed, acquired in May 2016.
Healthcare sales grew 7.9%, or 2.1% at constant exchange rates, with improvement in both trading profit and margins.
Industrial continues to benefit from the margin improvement programs. During the period the Group successfully completed the sale of the Rorschach property in Switzerland for CHF17.1m (£13.6m), and acquired Markel Industries for US$10m (£7.8m).
We remain confident of strong progress for the year, and we anticipate the profit for the year will be ahead of current expectations.
The Group will release its results for the half year on 21 November 2017.
*Before exceptional items, amortisation of intangible assets and legacy pensions costs and finance charges
Enquiries:
Scapa Group plc Heejae Chae - Chief Executive Graham Hardcastle - Finance Director |
0161 301 7430 | |
Numis Securities Limited (Nominated Adviser) Mark Lander / Richard Thomas |
020 7260 1000 | |
Berenberg (Joint Broker) Chris Bowman
Weber Shandwick Nick Oborne |
020 3207 7800
020 7067 0721 |
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