Scapa Group PLC AGM Statement

Data : 23/07/2019 @ 08:00
Fonte : UK Regulatory (RNS & others)
Titolo : Scapa Group Plc (SCPA)
Quotazione : 282.0  -1.5 (-0.53%) @ 17:29
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Scapa Group PLC AGM Statement

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TIDMSCPA

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 Basis(1)     Organic (excl Syst(2) 
                                                                                      & CVT(3) ) 
                           Growth        Growth       Growth        Growth       Growth        Growth 
                          (Reported)    (constant    (Reported)    (constant    (Reported)    (constant 
                                           FX)                        FX)                        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   Tel: 0161 301 
                              Oskar Zahn - Chief Financial          7430 
                              Officer 
 Numis Securities Limited    Mark Lander, Richard Thomas           Tel: 020 7260 
  (Nominated Adviser/Joint                                          1000 
  Broker) 
                            ------------------------------------  -------------- 
 Berenberg                   Chris Bowman, Toby Flaux              Tel: 020 3207 
  (Joint Broker)                                                    7800 
                            ------------------------------------  -------------- 
 FTI Consulting              Brett Pollard, Victoria Foster        Tel: 020 3727 
  (Media Relations)           Mitchell                              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 rns@lseg.com or visit www.rns.com.

END

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July 23, 2019 02:00 ET (06:00 GMT)

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