PROFITS at Scapa Group, one of East Lancashire's biggest employers, have increased despite the firm being hit by the strength of the pound.
The Blackburn-based group saw pre-tax profits edge up seven per cent to £66.5 million in the year to April as turnover increased slightly to £526 million.
Said David Dunn, chief executive of the group: "Allowing for currency movements, operating profits and margins improved as the divisions continued to benefit from innovative product development, new capital investments and strong market positions."
The firm employs more than 7,000 world wide, including more than 2,000 at its sites in East Lancashire, including Scapa Scandia at Blackburn, Scapa Filtration in Haslingden and Unaform in Rossendale.
Announcing today's results, the firm said that the strength of the pound had affected UK exports.
"The current strength of sterling, if maintained, will continue to have an impact on our results in the coming year," said chairman Harry Tuley.
Shareholders will receive an increased final dividend of 5.28p.
Earlier this year the group sold Padiham-based Perseverance Mills, which has a site in Blackburn, and Scapa Mouldings, of Rishton. The two businesses, which employ more than 500 people, are now called Padiham Group.
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