INDUSTRIAL products company Scapa saw the strength of the pound continue to hit profits, the firm said today.
The Blackburn-based group estimated that the strong pound cost it at least £4.9 million in the six months to September 30, with pre-tax profits down to £29.2 million from £30.2 million last year.
The cost of the strength of the pound hit overseas earnings and also affected imports and domestic market prices.
But underlying profits grew and chief executive David Dunn said prospects for the second half of the year were promising.
The group employs more than 1,000 in East Lancashire at its sites including Scapa-Scandia in Blackburn and Scapa Filtration in Haslingden.
Shareholders will receive an interim dividend of 2.05p.
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