Scapa expects to beat forecasts after "strong finish"

9th Apr 2015 11:45

Adhesive tape group Scapa Group said it expects to beat market forecasts for the year after its recent healthcare acquisition added to a "strong finish" in the final quarter.AIM-listed Scapa said both margins and trading profits will be ahead of current expectations and that a healthy cash flow had cut net debt by more than expected to £3.4m after the £11.3m cash acquisition of First Water.First Water, which designs and manufactures advanced wound dressings and skin adhesives, made just a few weeks initial contribution in the period from its 2 March acquisition to the 31 March year.The company also said it was looking to close its manufacturing facility in Rorschach, Switzerland and move the majority of products manufactured at the site to its other facility in Valence, France.Scapa is due to report its full year results on 27 May.