Scapa sees big jump in profits

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.

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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.