Scapa Group PLC Trading Statement (6330K)
April 12 2018 - 1:00AM
UK Regulatory
TIDMSCPA
RNS Number : 6330K
Scapa Group PLC
12 April 2018
12 April 2018
Scapa Group plc ("Scapa" or "the Group")
Year-end trading update
Scapa Group plc (AIM: SCPA) is today providing an unaudited year
end update for the twelve months ended 31 March 2018.
The Group performed well and the good progress reported in the
Interim Results has continued. Overall Group results are in line
with the improved expectations outlined in the Group's October
trading update.
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: Industrial continues to deliver on its asset
optimisation strategy. Industrial margin further improved driven by
the benefit of Asian restructuring and more efficient cost to
serve. The Markel acquisition is complete and site consolidations
are underway.
Healthy cash flow in the period ensured the Group ended the year
with net debt of GBP3.8m, after the acquisition of Markel
Industries for US$10.2m (GBP7.6m) and BioMed Laboratories LLC for
US$19m (GBP13.6m).
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.
This announcement contains inside information.
For further information:
Scapa Group plc Heejae Chae - Chief Executive Tel: 0161 301
7430
Graham Hardcastle - Finance Director
Numis Securities Limited Mark Lander, Richard Thomas Tel: 020
7260 1000
(Nominated Adviser/Joint Broker)
Berenberg Chris Bowman Tel: 020 3207 7800
(Joint Broker)
Weber Shandwick Financial PR Nick Oborne Tel: 0207 067 0000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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