Full Year Results 

Scapa precarious on lofty valuation

Scapa precarious on lofty valuation

Despite a somewhat thin operating margin, adhesive products supplier Scapa (SCPA) has been a consistently strong performer on the London Stock Exchange. Following another decent set of preliminary results, the group trades on a forward earnings multiple of 24 – a rating that assumes another 11 per cent climb in the bottom line in the year to March 2019. The company has a habit of beating such targets.

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