Scapa Group PLC Trading Statement (4733D)
October 10 2018 - 2:00AM
UK Regulatory
TIDMSCPA
RNS Number : 4733D
Scapa Group PLC
10 October 2018
10 October 2018
LEI No. 213800QIPVTK5ES5UU36
Scapa Group plc ("Scapa" or "the Group")
Period end update
Scapa Group plc (AIM: SCPA) is today providing a period end
update for the six months ended 30 September 2018.
Group trading profits* and margins are ahead of last year.
Primarily due to the adverse currency movement against the
equivalent period last year, revenue is down 3.4%.
Healthcare revenue grew 0.2% (3.4% on a constant currency
basis). We anticipate the tech transfers and new programs will, as
previously announced, start to benefit revenues during the second
half of the year.
Industrial profit and margin improved on lower revenue, and we
continue to make good progress toward the medium term margin target
of 15%. The integration of Markel Industries is nearly complete and
we expect the synergy benefit to come through during the second
half of the year. We also announced the closure of our Liverpool
facility in New York, USA.
Our cash generation remains strong and the Group ended the first
six months with a net debt of GBP5.2m.
We remain confident of strong progress for the year and we
anticipate the profit for the year will be in line with
expectations, excluding the impact of the recently announced
Gargrave healthcare transaction. Further details and the impact of
this transaction will be included in the half year results which we
expect to announce on 20 November 2018.
*Before exceptional items, amortisation of intangible assets and
legacy pension costs and finance charges
Enquiries:
Scapa Group plc
Heejae Chae - Chief Executive
Oskar Zahn - Chief Financial
Officer 0161 301 7430
Numis Securities Limited
(Nominated Adviser)
Mark Lander / Richard Thomas 020 7260 1000
Berenberg
(Joint Broker)
Chris Bowman 020 3207 7800
Weber Shandwick
Nick Oborne 020 7067 0721
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END
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