Scapa Group plc Reports Revenue Results for the Year Ended March 31, 2020; Provides Revenue Guidance for the First Quarter of Fiscal Year 2021
The Group has modelled a significant downside scenario ("COVID-19 scenario") that reflects the on-going and potential disruption to its business. Scapa is expecting a period where revenues will be substantially impacted, particularly in first quarter of fiscal year 2021 and in early second quarter fiscal year 2021, before returning to more normal levels, and in-line with management's pre-COVID-19 budget, from third quarter fiscal year 2021 onwards. As described above, the Company is undertaking a number of cost and cash preservation exercises and is adjusting working capital in-line with its revised revenue forecasts.