Scapa Reverses Loss

Announcing its preliminary results for the year ending 31st March 2011, Scapa Group plc reported a ￡6.1 million (6.9 million euros) profit before tax, reversing a ￡5.2 million loss for 2009-10. Revenue grew 8.8% to ￡192.3 million (219 million euros) and operating profit increased to ￡8 million (9 million euros), compared with a ￡1.5 million loss in 2010. Margins improved progressively to 4.2% for the year and net cash increased significantly from ￡11.4 million in 2010 to ￡18.8 million.

The report notes the appointment of a new leadership team to deliver the new strategy, focusing on improving the quality of the business towards higher value, application specific products. Operational execution and efficiency improved through the year. Scapa is investing in additional capacity and R&D capability in Asia to underpin a focus on the electronics sector.