13th Oct 2020 10:02
(Alliance News) - Scapa Group PLC on Tuesday said its interim revenue will top internal forecasts as the healthcare and industrial firm "continued to track ahead of its Covid plan".
For the six months ended September 30, revenue is tipped to come in 24% lower year-on-year at GBP122.0 million from GBP160.8 million.
In the healthcare division, revenue fell 26% to GBP55.1 million from GBP74.7 million, Scapa said. Industrial revenue was 22% lower annually at GBP66.9 million from GBP86.1 million.
"Scapa Group has continued to track ahead of its Covid plan. Scapa now anticipates that financial 2021 group revenues will be ahead of the board's expectations," the company added.
"As previously indicated, Scapa acted swiftly to implement structural costs changes across the business in response to the impact of the Covid-19 pandemic on the reduction in product demand, participated in various government assistance programs and ensured variable costs were closely managed to match."
Scapa shares were 8.1% higher at 133.40 pence each in London on Tuesday morning.
By Eric Cunha; [email protected]
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