Scapa Group PLC Trading Update (6939C)
12 Febbraio 2020 - 8:00AM
UK Regulatory
TIDMSCPA
RNS Number : 6939C
Scapa Group PLC
12 February 2020
12 February 2020
LEI No. 213800QIPVTK5ES5UU36
Scapa Group plc
Trading Update
Scapa Group plc (AIM: SCPA) provides an update on current
trading ahead of its financial year-end on 31 March 2020.
The Group expects FY20 revenue to be approximately GBP306
million, broadly in line with market expectations. However, trading
profit is now expected to be approximately GBP28 million,
significantly below consensus.
Healthcare revenue is estimated to be approximately GBP139
million, slightly ahead of market expectations and greater than
last year despite the loss of the ConvaTec contract. Healthcare
trading profit is expected to be lower than consensus, reflecting
slower progress in reducing costs than expected at the time of the
interim results. The Group continues to focus on our pipeline of
new programs as we leverage our technologies and capabilities to
drive our organic growth and reduce the cost of operations.
Industrial revenue is expected to be approximately GBP168
million, which is slightly below market expectations but has a
material impact on Group trading profit. This is primarily the
result of adverse macroeconomic conditions, particularly in the
automotive and specialty products markets.
The Group is focused on rigorous execution of the strategy as it
continues to increase efficiency and convert its pipeline of
opportunities to improve sales and margin performance. The Group
expects the macro environment to remain challenging in some of the
industrial markets in which it operates.
We believe that we have the right vision and strategy to
capitalize on the outlook and opportunities for Healthcare and
Industrial. Our Healthcare franchise is well positioned to benefit
from the changes in the medical device market and whilst we expect
the macro-environment to remain challenging, we will focus on cost
reductions to drive the margin in Industrial to historical
levels.
Scapa expects to report its full year results on 19 May
2020.
For further information:
Scapa Group plc Heejae Chae - Group Chief Executive Tel: 0161 301
Oskar Zahn - Chief Financial 7430
Officer
Numis Securities Limited Mark Lander, Freddie Barnfield Tel: 020 7260
(Nominated Adviser/Joint 1000
Broker)
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Berenberg Chris Bowman, Toby Flaux Tel: 020 3207
(Joint Broker) 7800
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FTI Consulting Simon Conway, Victoria Foster Tel: 020 3727
(Media Relations) Mitchell 1000
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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
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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 rns@lseg.com or visit www.rns.com.
END
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