Bonding materials firm Scapa announced a big jump in profits in the year to the end of March and said trading was in line with expectations so far in 2012.
Profit before tax increased 72.1% to £10.5m and basic earnings per share increased 87.5% to 4.5p.
The numbers were driven by strong performances in its industrial and healthcare markets, but its electronics business proved a drag.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Revenue grew 1.7% to £195.6m with trading margins improving to 5.5% from 4.2% the year before.
But the firm said it would pay no dividend for the year and the future recommendation of dividends would remain under review "as the group continues to make progress towards sustainable profitability and cash generation".
"We continue to be mindful of the current macro-economic issues but we are well positioned to continue to execute the self-help agenda and to invest in repositioning the Group towards higher value added business," said Chairman JAS Wallace.
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
