REG - Cropper(James) PLC - AGM Trading Update

James CropperAnnouncement

04/09/2024 07:00

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RNS Number : 7645C  Cropper(James) PLC  04 September 2024

4 September 2024

 

 

James Cropper plc

("James Cropper", the "Company" or the "Group")

 

AGM Trading Update

 

James Cropper (AIM: CRPR), the Advanced Materials and Paper & Packaging
group, issues a trading update for the 18-week period ended 27 July 2024
("period") to coincide with its Annual General Meeting being held at 11.30am
BST today.

 

The Group has made a positive start to the financial year, with performance
over the period showing recovery from the challenging market conditions
experienced in the second half of FY24.  Trading is in line with the Board's
expectations, albeit behind the performance seen over the same period last
year where Advanced Materials fuel cell revenue was particularly strong.

 

New sales opportunities in the Advanced Materials business remain strong,
where investment continues to be made in our hydrogen electrolyser business to
build capacity to meet anticipated demand. Whilst the luxury packaging market
remains soft, order intake levels in Paper & Packaging point to continuing
recovery over the current financial year, where the business has secured some
new key contracts.

 

The Board remains confident in the mid-term prospects of both the Advanced
Materials and Paper & Packaging business, and its full year expectations
remain unchanged.

 

Steve Adams, James Cropper CEO, stated:

 

"We have made a positive start to the financial year across both Advanced
Materials and Paper & Packaging, with revenue run-rates and profitability
improving against the performance seen during difficult market conditions in
the second half of FY24.

 

"We continue to focus on adding value for our customers and remain resolute in
the delivery of our accelerated growth strategy under our recently
repositioned James Cropper branding."

 

 

Enquiries

 

James Cropper plc

Steve Adams, CEO

Andrew Goody, CFOO

Tel: +44 (0) 1539 722 002

 

Shore Capital - (NOMAD and Broker)

Daniel Bush, David Coaten, Henry Willcocks, Lucy Bowden

Tel: +44 (0) 7601 6100

 

Bursor Buchanan - Financial PR

Chris Lane, Charles Ryland, Jamie Hooper, Verity Parker

jamescropper@buchanancomms.co.uk (mailto:jamescropper@buchanancomms.co.uk)

Tel: +44 (0) 207 466 5000

 

 

Notes for editors:

 

James Cropper is a market leader in Advanced Materials and Paper &
Packaging, centred around four market audiences: Energy Solutions, Composite
Solutions, Luxury Packaging and Creative Papers.

 

A purpose-led business, built upon six generations of the Cropper family,
James Cropper has a 600+ international workforce and an operational reach in
over 50 countries.

 

Established in 1845, the Group manufactures creative papers, luxury packaging
and advanced materials incorporating pioneering non-wovens and electrochemical
coatings.

 

James Cropper is a specialist provider of niche solutions tailored to a unique
customer specification, ranging from substrates and components in hydrogen
electrolysis and fuel cells to bespoke colours and textures in paper and
moulded fibre packaging designed to replace single use plastics.

 

The Group operates across multiple markets from luxury retail to renewable
energy. It is renowned globally for service, capability, pioneering and multi
award-winning commitment to the highest standards of sustainability.

 

James Cropper's goal is to be operationally net zero by 2030 and to reduce
carbon through its entire supply chain to net zero by 2050.

 

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