14th Mar 2005 12:15
Scapa Group PLC14 March 2005 14 March 2005 SCAPA GROUP TRADING UPDATE Scapa Group plc ("Scapa") - Late last week there was a small explosion at ourItalian tapes manufacturing facility. Fortunately no one was seriously injuredand the fire prevention procedures worked extremely well. There will be somedisruption to activities over the next few weeks although insurance should covera significant proportion of the costs of the incident. Overall Group sales will be broadly similar to last year despite the impact ofthe weaker US Dollar. However, there have been a number of significant recentraw material price increases, particularly in North America, which are currentlyimpacting margins. Further selling price increases are being implemented butthese are not anticipated to yield any benefits until the next financial year. As a consequence of these events the Board anticipates that Group pre-taxprofits (before goodwill and exceptional items) will be approximately £2.0million below current market expectations for the year ending March 2005. More positively, last week Scapa Dryer Fabrics Inc. was voluntarily dismissedfrom an asbestos damages case in King County, Seattle, USA shortly after thecommencement of the trial. This dismissal continues to illustrate the robustapproach taken in vigorously defending such claims. For further information, please contact: Scapa Group plc Tony Watson, Chief Executive Tel: 01254 580123 Colin White, Finance Director Financial Dynamics Deborah Scott Tel: 020 7831 3113 A full copy of this announcement can be found at www.scapa.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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