Scapa on track with 20% profit rise

SCAPA Group, the international technical tapes and bonding solutions manufacturer, has reported encouraging half year figures, with growth in sales and profits.

The Ashton-under-Lyne company said its results for the six months to the end of September were “strong” against challenging market conditions.

Revenue rose 8.1% to £111.6m with growth in all markets ahead of the first six months of 2012.

Trading profit for the period was £7.4m, up from £6.5m a year ago, and at the bottom line, pre-tax profits came in 20.8% higher at £5.8m.

Revenue in the healthcare business showed the benefits of Scapa’s strategy of being a key outsourcing partner to global customers as revenues rose 15.4% to £32.3m. Industrial revenue increased by a more modest 5.6% to £73.8m.

Chief executive, Heejae Chae said: “The group has delivered another period of growth in revenue and profits, with strong financial and strategic progress by healthcare in particular.

“We remain confident in the growth potential of the business and that the group will deliver full year results in line with management expectations.”