Strong US orders drive Scapa half-years
TECHNICAL tapes manufacturer Scapa is upbeat on the back strong half-year earnings.
In the six months to the end of September pre-tax profits were up 7% to £6.2m on sales of £114.7m, up 3%.
On a constant currency basis – calculated after taking into account the impact of currency fluctuations – revenues were up by 9.7%.
The Ashton-under-Lyne business said it had enjoyed a strong performance across all its divisions and regions. Revenue growth in the US was stronger than Europe, up nearly 15% compared to 2.7%, on a constant currency basis.
The group’s largest sector is industrial tape, which accounted for £72.6m, down 1.6%. Healthcare generated £35.8m, up 11%, and electronics saw revenues grow by 14.5% to £6.3m. Margins improved in each area.
Chief executive Heejae Chae said: “We are pleased with the group’s continued strong performance, growing across all our divisions and regions on a constant currency basis. We remain confident in the growth potential of the business and that the Group will deliver full year results above current market expectations.”
