Good morning, it's Paul here with Friday's SCVR.

Today's report is now finished, due to lack of relevant announcements.

Pubs and restaurants seem to be seeing a surge in demand, thanks to the Eat Out to Help Out Govt discount scheme. Industry data suggests that sales were up 70.9% in the first 3 days of the scheme (food up 114.3%). I decided to mystery shop/dine Wildwood, in Bournemouth, a pre-covid favourite of mine, on Weds earlier this week. I couldn't believe how busy it was - packed downstairs, and a good smattering of groups upstairs too (which is usually empty). I asked the waitress how business has been, she replied, "very busy, every day, since we re-opened on 18 July". Isn't that surprising? She said the Govt scheme has helped, but it was busy already. Bournemouth generally was busy with people at about 6pm, although being a seaside town, and the weather being pleasant, and people not going abroad, then perhaps those factors help. It looks very mixed anyway - central London is still almost deserted, but by the looks of it seaside/holiday towns are doing alright. I'm going to mystery shop Franco Manca for lunch today!

.


Scapa (LON:SCPA)

Share price: 91.6p (before market opens)
No. shares: 186.9m
Market cap: £171.2m

AGM and Q1 trading statement

Scapa Group plc is a diversified Healthcare and Industrial company focused on bringing best-in-class innovation, design and manufacturing solutions to its customers...

Scapa's year end is 31 March 2021. Hence Q1 update today covers April-June 2020.

Scapa has delivered FY21 Q1 revenues in the three months to 30 June 2020 well ahead of its COVID-19 scenario plan. Trading in both divisions has also continued to improve into FY21 Q2 to date. Scapa acted swiftly to implement structural costs changes across the business in response to the impact of the COVID-19 pandemic on the reduction in product demand, as well as ensuring variable costs were closely managed to match the new demand levels.
The combination of the better than anticipated business performance in FY21 to date, early cost intervention measures and continued improvement across both divisions mean the Group's outlook on full year trading profit is trending approximately 10% ahead of market expectations.

That's great, but it's a pity the company fails to provide a footnote detailing what market expectations are, which is best practice being followed…

Unlock the rest of this Article in 15 seconds

or Unlock with your email

Already have an account?
Login here