Scapa Group – 65p

27 November 2012 – interim results

The group has announced its interim results covering the six months to 30 September revealing a 5% increase in revenue to £103.2m (2011: £98.6m) with adjusted pre-tax profits rising 31% to £5.9m (2011: £4.5m).  Earnings per share on the same basis were 39% higher at 2.5p (2011: 1.8p) and strong cash flow has led to an increase in net cash to £8.5m (2011: £7.0m).  These are very good results in the circumstances and with the group continuing to focus on higher value, higher margin markets  we re-iterate our recommendation of BUY.

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