11th Apr 2019 09:41
LONDON (Alliance News) - Scapa Group PLC on Thursday said it expects to deliver "record" revenue and trading profit, with annual results set to meet market expectations.
Adhesive products maker Scapa's shares were trading up 9.6% at 347 pence each.
For its year ended March 31, Scapa has guided for revenue to rise 7% to GBP311.8 million from GBP291.5 million a year prior.
Revenue in the Healthcare division grew 22% on a continuing basis in the year, including the impact of the BioMed and Systagenix acquisitions. Organic revenue is expected down 3.6% for the year despite rising 5.1% in the second half.
"Since successfully completing the acquisition of Systagenix, the business has performed ahead of expectations, both in revenue and profit," Scapa said.
In the Industrial division, revenue declined 4.6% due to adverse macroeconomic conditions in the automotive and European cable markets, Scapa said.
Scapa expects to report its full year results on May 21.
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