Member Article

Scapa reports record results

Manchester-based Scapa Group have announced record results for the year ending March 2013, with 6.7% revenue rises.

The firm, which manufactures bonding materials, posted operating profit rises of 13.7% to £13.3m, while profit before tax increased by 33.7% to £12.7m.

Scapa said it is continuing to deliver improvements in cash and profits, while its margins increased for both its industrial and healthcare divisions.

Chief executive, Heejae Chae, commented: “The Group has delivered a record performance this period with another year of improved profit and shareholder value.

“We continue to execute our strategy of self-help and improve the balance of our business both geographically and in the markets in which we operate.

“This was demonstrated this year by the significant improvement in performance of our Healthcare business and the strong contribution made by WEBTEC, the acquisition made in December 2011.

“In addition to the improvement in performance, this year has also seen us successfully address our legacy issues, bringing significantly greater clarity to related future funding commitments. Accordingly we remain well placed to make further strategic investments in the future.

“While we remain mindful of the uncertainty of the current economic environment, particularly in Europe, the Board is confident that Scapa is well positioned to make further progress in the coming financial year.”

This was posted in Bdaily's Members' News section by Miranda Dobson .