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AGM Statement

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RNS Number : 3337G
Scapa Group PLC
23 July 2019
 

  

 

 

 

23 July 2019

 

LEI No. 213800QIPVTK5ES5UU36

 

 

Scapa Group plc

AGM Statement

 

 

Scapa Group plc (AIM: SCPA) is holding its Annual General Meeting at 10:30am today.  At the meeting, Larry Pentz, Chairman of Scapa Group, will provide the following update.

 

The Group's trading performance for the first quarter is in line with the Board's expectations.

 


Q1 Statutory Basis

Q1 Continuing Basis1

Organic (excl Syst2 & CVT3)

Growth (Reported)

Growth (constant FX)

Growth (Reported)

Growth (constant FX)

Growth (Reported)

Growth (constant FX)

Healthcare Revenues

47.8%

41.5%

40.6%

34.6%

7.9%

3.5%

Industrial Revenues

4.5%

2.8%

4.5%

2.8%

4.5%

2.8%

Scapa Group Revenues

21.6%

18.4%

18.7%

15.6%

5.6%

3.1%

 

The integration and consolidation projects are proceeding according to plan and the Company continues to seek additional opportunities to deliver long-term sustainable growth.

 

The Board considers Scapa to be well positioned to make further progress against its strategic objectives and remains confident in the Group's outlook.

 

1 Excluding IFRS 15 provision release. A contract liability provision was created as a result of the acquisition of Systagenix in line with the requirements of IFRS 15 and this is excluded on a 'continuing' basis as it represents a non-cash item.  This provision will be released on a straight-line basis over a five-year period, in line with the exclusive supply contract

² Systagenix

³ ConvaTec

 

For further information:

 

Scapa Group plc

Heejae Chae - Group Chief Executive

Oskar Zahn - Chief Financial Officer

 

Tel: 0161 301 7430

Numis Securities Limited

(Nominated Adviser/Joint Broker)

 

Mark Lander, Richard Thomas

Tel: 020 7260 1000

Berenberg

(Joint Broker)

 

Chris Bowman, Toby Flaux

 

Tel: 020 3207 7800

FTI Consulting

(Media Relations)

 

Brett Pollard, Victoria Foster Mitchell

Tel: 020 3727 1000

 

 

About Scapa Group plc

Scapa Group plc is a diversified Healthcare and Industrial company focused on bringing best-in-class innovation, design and manufacturing solutions to its customers.

 

Healthcare

Scapa Healthcare is the trusted strategic partner of choice for the world's leading companies in Advanced Wound Care, Consumer Wellness and Medical Device Fixation. We partner with the top global MedTech companies to develop and manufacture innovative skin friendly medical device fixation and topical solutions, from inception through to market delivery, from our state-of-the-art facilities.

 

For further information, please visit www.scapahealthcare.com

 

Industrial

Scapa Industrial is a global supplier of bonding solutions and manufacturer of adhesive-based products which offer meaningful value in industrial applications due to their lightweight, easy-to-apply properties. We are recognised for our unparalleled range of products, including adhesive tapes, films and foams, and we can engineer custom designs for even the most unique applications.

 

For further information, please visit www.scapaindustrial.com


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Scapa Group PLC

Price: 224

Market: AIM
Market Cap: £347.74 m
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