Scapa says half-year revenues to top expectations

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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 GBP122mln.

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

Adjusted net debt at the end of the period was GBP21mln, down from GBP54mln 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.

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