Nice to see the Brokers all with BUY recommendations...... forward P/E of just over 12 going into 2012 far too cheap imo. Look at the NAV per share aswel, 36.4p. at 2010!!!!!

Scapa Group PLC

FORECASTS 2011 2012
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Brewin Dolphin
19-04-11 BUY 5.60 2.70 7.00 3.50
Arden Partners
15-04-11 BUY 5.60 2.70 7.30 3.60
Cenkos Securities
13-04-11 BUY

2011 2012
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 5.60 2.70 7.15 3.55
1 Month Change 0.82 0.36 1.35 0.71
3 Month Change 0.79 0.35 1.32 0.70


GROWTH
2010 (A) 2011 (E) 2012 (E)

Norm. EPS % % 31.44%
DPS % % %

INVESTMENT RATIOS
2010 (A) 2011 (E) 2012 (E)

EBITDA -13.80m 13.20m 14.70m
EBIT -18.70m m m
Dividend Yield 0.00% % %
Dividend Cover x x x
PER -3.27x 16.67x 12.68x
PEG f f 0.40f
Net Asset Value PS 36.34p p p

Interims later this month - 27 Nov - Broker consensus is looking for 34% leap in earnings per share for fiscal 2013 ahead of 10% advance to 5.2p in the year to March 2014. Price/earnings (PE) ratios of13.9 and 12.7 for 2013 and 2014 respectively look undemanding given Scapa's resilience. The £95 million cap's latest trading statement - 11 Oct - revealed that revenues and operating profits in the March-September period were in line with expectations. Net cash reached £8.5 million.

SCPA SCAPA GROUP was boosted by a trading update earlier this month..http://www.investegate.co.uk/scapa-group-plc--scpa-/rns/trading-statement/201410090700088204T/ …
Broker NUMIS UPGRADED to 150p

SCPA gradually increasing the scale of its higher margin woundcare business and modest acquisition announced today should fit well. I particularly liked the bit tagged on at the end of the RNS stating that "trading profits will be ahead of market expectations". SCPA have served me well over the three years or so I have held and I hope they continue to outperform, but always dyor

Often, it seems, the boring looking shares produce the best long term results and SCPA update today suggests all continues to go well. Always dyor.

Strong trading statement yesterday confirms solid progress, reflected in steadily appreciating share price.Always dyor.

Splendid interim results and full year believed to be "ahead of expectations". Sale of land and buildings on former site in Switzerland "progressing well and proceeds should exceed initial estimates". Hope some of you had these for a few years - mine still locked away in ISA but always dyor.

Superb results yesterday - profits rising faster than revenues owing to growing Healthcare side with better margins. Charlie Munger "You make your real money not by buying and selling, but by waiting" now applies to SCPA for me. Rating scarily high on fundamentals, but a quality business which imo could easily become prey. Always dyor.