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Scapa on track to meet improved expectations

By BFN News | 07:38 AM | Thursday 12 April, 2018


In a trading update Scapa Group (SCPA) has reported results for the year to 31 March will be in line with improved guidance given in October. Healthcare revenues grew 3.8% for the year, despite currency headwinds in H2. Sales growth in H2 was strong at 6.8% on a constant currency basis. Margins for the year are expected to be above 15% reflecting the investment in the integration of two technology transfers completed during the year. Industrial margin improved driven by the benefit of Asian restructuring and more efficient cost to serve. The Markel acquisition is complete and site consolidations are underway. The group ended the year with net debt of £3.8m, after the acquisition of Markel Industries for US$10.2m (£7.6m) and BioMed Laboratories LLC for US$19m (£13.6m). Heejae Chae, CEO commented: 'This year we have delivered another set of strong results, and completed two acquisitions: Markel, our first Industrial acquisition, and BioMed, our first Healthcare acquisition outside adhesive technology. 'We also completed two technology transfers in Healthcare as we execute our growth strategy. I believe there is clear potential, in both Healthcare and Industrial, to further improve performance through organic growth, efficiency and acquisitions. 'It is with great sadness that we announced yesterday a fatal accident at the Dunstable facility in the UK. I join with all of my colleagues and fellow directors in expressing our sincere condolences to the family and friends of the deceased.' Scapa expects to report its full year results on 22 May 2018. Story provided by StockMarketWire.com

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