28th May 2014 08:23
LONDON (Alliance News) - Scapa Group PLC said Wednesday it is exploring plans to move its listing to the Premium Listing of the London Stock Exchange as it reported full-year pretax profit and revenue growth and a boosted dividend payment after recording growth across geographies and a pick-up in its Healthcare business.
The bonding materials and services manufacturer said pretax profit rose 16.7% to GBP11.2 million from GBP9.6 million last year as revenue rose 8.3% to GBP226.1 million from GBP208.8 million in 2013.
The company also increased its full-year dividend by 100% to 1 pence per share from the 0.5 pence paid last year.
In its full-year results for the year to March 31, 2014 the company said it saw growth across its geographies and market segments, with the Healthcare division recording a 20.6% rise in revenue to GBP69.2 million from GBP57.4 million and trading profit boosted by 21.4% to GBP10.2 million from GBP8.4 million last year.
"Healthcare continues to deliver on its strategy by climbing the value chain and forming stronger outsourcing partnerships with both existing and new customers and we are well positioned to take advantage of the current outsourcing trend in this sector," said Chief Executive Heejae Chae.
The company said it remains positive for the division, with a pipeline of development projects in place, expected to complete in the coming year, and that it is seeing positive trends in outsourcing in the market segments in which Scapa participates.
Buoyed by its full-year results, the company said it is currently exploring plans to move its AIM market listing to the Premium Listing of the London Stock Exchange.
During the course of the year Scapa said it has focused on a number of 'self-help' initiatives, including centralised organisational structure and support services in Europe; the disposal of unutilised property for net profit of GBP0.8 million; and merged UK pension schemes, significantly reducing cash outflow.
Looking ahead the company said it is focused on diversifying its business to create a balanced portfolio in order to sustain performance, developing new accounts in order to grow revenue metrics, make further earnings-enhancing acquisitions, continue its 'self-help' initiatives, and further improve its balance sheet to support future growth.
While growth through acquisitions remains an important focus for the firm, Scapa did not make any acquisitions during the full-year, though noted that it pursued a number of opportunities with a view to broadening its portfolio during the period, but none were concluded.
Scapa, buoyed by growth across its divisions, said it expects momentum to continue and that the group remains well positioned to make further progress.
Shares in Scapa were trading marginally lower Wednesday morning, down 0.53% at 111.654 pence per share.
By Alice Attwood; [email protected]; @AliceAtAlliance
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