Scapa Group down as it fails to stick to guidance

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Scapa Group down as it fails to stick to guidance
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AIM-listed adhesive specialist Scapa Group (LON:SCPA) watched its share price plummet 28.16% to 195.40p (as of 14:25 GMT) after it warned that trading profits would be significantly below the current consensus level forecast. Healthcare revenues are slightly ahead of expectations, but progress on cost reduction has been slower than hoped.

Meanwhile, the industrial segment of the company saw revenues drop due to adverse macroeconomic conditions, particularly in the automotive industry.

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