22nd May 2018 12:28
LONDON (Alliance News) - Scapa Group PLC said on Tuesday that profit rose in its recently-ended financial year due to increased revenue across both its healthcare and industrial businesses.
The company - which specialises in adhesive products for the industrial and healthcare sectors - said pretax profit for the year ended March 31 came in at GBP28.8 million, up from GBP21.8 million the year before.
Basic earnings per share came to 15.4p, up 33% from 11.6p the year before.
In the period, total group revenue grew 4.3% to GBP291.5 million versus GBP279.6 million last year.
Of this, Healthcare revenue accounted for GBP112.8 million, up 3.8% from GBP108.7 year on year. Industrial revenue increased further, up 4.6% to GBP178.7 from GBP170.9 million the year before.
Scapa Group raised its full-year dividend 20% to 2.4 pence per share from 2.0p the year prior.
Scapa's industrial arm recorded a profit margin of 13% - on track for its 15% goal - and Scapa Chief Executive Heejae Chae said he was "confident about the future" of the group.
"The year has been successful both financially and strategically. We completed two acquisitions, one in healthcare and one in industrial, which are strategically significant. We also signed two technology transfers that validate our healthcare strategy," said Chae.
Shares in Scapa were up 11% to 488.00 pence each on Tuesday.
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