Scapa profits ahead of last year

TECHNICAL tapes manufacturer Scapa has said half year operating profits are ahead of last year, as the company continues to improve margins.

The Ashton-under-Lyne based company, which has businesses around the world, supplies bonding and adhesive products to five key sectors – medical, electronics, consumer, industrial and transportation.

In a trading update for the six months to the end of September 2011 it said group operating profits were “marginally” ahead, while operating profits were “significantly” ahead of the same period last year.

The company continued to make progress on improving margins, through improved efficiency, cost reduction and focus on higher quality business, it said.

Strong cash flow in the period increased net cash to £20.8m at the period end, it added.

“While remaining cautious in the face of the current negative economic sentiment, the board is confident about the group’s outlook for the year which is in line with current market expectations,” the trading statement said.