9th Oct 2014 08:34
LONDON (Alliance News) - Bonding materials and services manufacturer Scapa Group PLC Thursday said its first-half operating profit and revenue has grown, and its well positioned to make further progress during the remainder of the year.
In a trading update, the company said its trading profit margin, which excludes exceptional items and amortisation, continued to improve in the first-half ended September 30, while a strong operating cash flow contributed to a healthy balance sheet.
Last year, Scapa recorded a trading profit of GBP7.4 million on GBP111.6 million in revenue.
"Group revenue and trading profits have seen good growth over the same period last year, despite currency headwinds, which have reduced since our trading update on 22 July," the company said in a statement.
In July, Scapa said that despite difficulties with currency translation losses, its trading performance for its first quarter was is in line with board expectations.
"Scapa is well positioned to make further good progress this year and the board remains confident about the group's outlook," the company said in its statement Thursday.
The company said it will announce its interim results on November 25.
Scapa shares were up 2.7% Thursday morning at 133.50 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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