10th Oct 2018 08:34
LONDON (Alliance News) - Scapa Group PLC said Wednesday that it expects half-year profit and margins to be "ahead" of the comparative interim period a year ago, while revenue is forecast to fall.
For the six months to September 30, the firm, which manufactures adhesive-based products for healthcare and industrial markets, said revenue is expected to be 3.4% lower than last year due to negative currency movement.
In the first half of financial 2017, Scapa posted revenue of GBP145.6 million and pretax profit of GBP15.4 million. This would suggest revenue in the recent period of GBP140.6 million.
By divisions, the company added that Healthcare revenue grew 0.2%, 3.4% if considered on a constant currency basis.
Meanwhile, Industrial profit and margin "improved on lower revenue", as the company said it continues to "make good progress toward the medium term margin target of 15%".
Looking ahead, Scapa said it remains confident of "strong progress for the year" as it forecasts profit in line with expectations.
Scapa shares were trading down 1.5% at 417.39 pence each on Wednesday morning.
The company will publish its half-year results on November 20.
Related Shares:
SCPA.L