9th Apr 2015 07:14
LONDON (Alliance News) - Bonding materials and services company Scapa Group PLC rose in early trade on Wednesday after the company said it saw a strong finish to the year, boosted by the acquisition of First Water Ltd.
Scapa said it saw a strong finish to its financial year to the end of March, with First Water, the advanced wound dressings and skin adhesives manufacturer it acquired for GBP15.3 million, boosting its results.
Due to the good performance at the close of the year, it expects margins and trading profit for the year to be ahead of market expectations.
The group also said it is starting a consultation with employees over the planned sale of its manufacturing facility in Rorschach in Switzerland. The majority of the products manufactured at the site will move to its facility in Valence in France under the plans, Scapa said.
The company will post its full-year results on May 27.
Scapa shares were up 9.2% to 154.00 pence in early trade, one of the best performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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