Scapa profits up a massive 72 per cent to £10.5m

Tapes and adhesive maker Scapa Group posted a bumper rise in annual profits as it focused on improved margins, operational efficiencies and cost control.
Scapa, which has its headquarters in Ashton-under-Lyne, posted pre-tax profits of £10.5m for the 12 months to March 31, an increase of 72.1 per cent from £6.1m.
The surge came despite a modest 1.7 per cent increase in revenues from £192.3m to £195.6m.
Its performance was boosted by the acquisition of US company WEBTEC in December. WEBTEC, which is based in Tennessee, makes woundcare dressings and other adhesive-backed medical products, packaging and labels.
Scapa, which is led by chief executive Heejae Chae, said WEBTEC contributed £5.4m in revenues in the full year and £500,000 in trading profits.
Stripping out the impact of the acquisition, group revenues were down by 1.1 per cent as Scapa reduced its focus on low-margin business.