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9 Apr 2015 07:00
9 April 2015
Scapa Group plc ("Scapa" or "the Group")
Year end trading update
Scapa Group plc (AIM: SCPA), a global supplier of bonding materials and solutions, is today providing a year end update for the twelve months ended 31 March 2015.
Following the market update at the beginning of March the Group saw a strong finish to the year, including an initial contribution from First Water, the Healthcare acquisition made in February 2015. As a result we anticipate that margins and trading profits will be ahead of current market expectations.
Healthy cash flow in the period ensured the Group ended the year with net debt of £3.4m, also better than expected, after the acquisition of First Water for an initial cash consideration of £11.3m.
As we look to continue to optimise our manufacturing footprint and align our facilities to our Industrial commercial and operational strategy, we are today also initiating a formal process of consultation with employees on the proposed closure of our manufacturing facility in Rorschach, Switzerland. Under this proposal, the majority of products manufactured at the site would transfer to Scapa's facility in Valence, France.
Scapa expects to report its full year results on 27 May 2015.
Enquiries:
Scapa Group plc Heejae Chae - Chief Executive Paul Edwards - Finance Director |
0161 301 7430 |
Numis Securities Limited (Nominated Adviser and Joint Broker) Mark Lander / Richard Thomas |
020 7260 1000 |
N+1 Singer (Joint Broker) Nick Owen |
020 7496 3000 |
Weber Shandwick Nick Oborne |
020 7067 0721 |
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