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Scapa says half-year revenues to top expectations

Adjusted net debt at the end of September was £21mln, down from £54mln a year before

Scapa Group PLC - Scapa says half-year revenues to top expectations

Scapa Group PLC (LON:SCPA) said revenues for the six months to September 30 are going to top expectations revised during the pandemic.

Revenues for the industrial and healthcare divisions are expected to be 22% and 26% lower than the prior year, bringing group revenues down 24% to £122mln.

READ: Scapa lifts outlook after overdoing the doom and gloom in coronavirus scenario planning

Adjusted net debt at the end of the period was £21mln, down from £54mln a year before.

The manufacturer of tapes and bandages said the combination of the better than anticipated business performance in the first half, cost containment actions and continued improvement across both divisions has laid a solid foundation for the second half.

Shares shot up 9% to 143.2p on Tuesday at the opening bell.

Quick facts: Scapa Group PLC

Price: 160.4 GBX

Market: AIM
Market Cap: £301.23 m

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