Scapa Group earnings soar 18%
TECHNICAL tape specialist Scapa Group is celebrating 4% growth in revenue to £119.3m and pre-tax profits soaring 18.3% to £9.7m.
The Ashton-under Lyne based business saw its adjusted earnings per share increase 25.0% to 5.0p (2014: 4.0p) in the financial year ending September 30.
The interim results report said Scapa benefited from a 21.2 % increase in health care revenue (12.7%) at constant exchange rates and the strategic acquisition of First Water.
It also won a partnership deal with Johnson & Johnson Consumer Healthcare.
Chief executive Heejae Chae said: “Scapa has delivered a strong first half performance which has seen our revenue, trading profit and margin continue to grow and balance sheet further strengthened.
“More significantly, we are delivering on the strategy we have outlined for the two businesses. Healthcare is to become the strategic turn-key partner for our customers and in industrial we want to maximise the return on capital employed.
“We are confident that we have the strategy, structure and resources in place to deliver on our strategic goals.
“While we are mindful of wider macro-economic factors the board remains confident about the group’s outlook and expects continued progress for the remainder of the year and beyond.”
