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Scapa Group says full year results are ahead of expectations

Scapa expects to achieve further progress through organic growth, efficiency improvements and acquisitions
Scapa's healthcare division delivered a 5.0% increase in annual revenue

Scapa Group plc (LON:SCPA) said full year results are ahead of expectations following a strong trading performance.

Shares rose 8.25% to 400.0p in morning trading.

The company, which supplies bonding solutions and adhesive-based products to the healthcare and industrial markets, said revenue, trading profit and margins will beat estimates for the year.

Its healthcare division saw revenue rise 16.5% or 5.0% at constant exchange rates, including a contribution from US wound-care supplier EuroMed Inc, which the group bought last May for US$35mln.

Margins in healthcare will exceed 15% for the year following an improvement in the second half, bolstered by efficiency improvement programmes and growth in higher margin turn key products.

Industrial margin is expected to reach “double digits” for the year thanks to asset rationalisation and lower material costs, Scapa said.

"We have delivered another set of strong results which are ahead of expectations as we continue to execute our strategies for Healthcare and Industrial,” said chief executive Heejae Chae.  

“We remain confident of achieving further progress through organic growth, efficiency improvements and acquisitions."

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