REG - Cropper(James) PLC - Trading and Paper & Packaging Customer Update

James CropperAnnouncement

07/07/2025 07:00

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RNS Number : 9294P  Cropper(James) PLC  07 July 2025

7 July 2025

James Cropper plc

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

Trading and Paper & Packaging Customer Update

 

James Cropper plc (AIM: CRPR), the Advanced Materials and Paper &
Packaging group, provides an update on trading in advance of its full year
results for the financial year to 29 March 2025 ("FY25") which will be
published later this month.

 

The Company has received notice that a significant merchant customer of the
Paper & Packaging business will no longer source certain coloured paper
ranges from James Cropper, effective immediately.  This decision followed a
reduction of approximately 50% in sales of these products to that customer in
the first quarter of the financial year.

 

With a revised strategy and operating plan already established in Paper &
Packaging, notwithstanding the merchant customer's reduced sales referenced
above, provisional results for the first quarter of the current year to 28
March 2026 ("FY26") show this Business Unit trading ahead of both the same
period in the previous year and of the Board's expectations. This first
quarter performance has been driven by business with other customers and
efficiency savings pursuant to the revised operating approach.  The Board's
expectations for the Paper & Packaging business in FY26 remain for it to
report a significant improvement in Adjusted EBITDA against FY25, and the
achievement of run-rate Adjusted EBITDA breakeven in the final quarter.

 

Revenue in the Advanced Materials business grew by approximately 10% in the
first quarter of FY26 compared to the same period in FY25. The Board continues
to expect the Advanced Materials business to report single-digit revenue
growth for full year FY26, with planned investments in operations during the
period focused on revenue growth beyond FY26.

 

Overall, the Board is confident that the Group will deliver significant growth
in Adjusted EBITDA profitability in FY26 against FY25.

 

David Stirling, Chief Executive Officer, commented:

"While we are disappointed by the customer's unexpected decision, the Board is
encouraged by early progress delivered by the strategy outlined at the
Company's Capital Markets Event on 18 June 2025. Performance in the Paper
& Packaging business is improving and is expected to continue to do so, as
it is for the overall Group.

 

"James Cropper has a heritage of 180 years as a papermaker and a leading
reputation in the manufacture and supply of coloured papers for over 150 years
to both UK and international markets and remains committed to this segment.
The Company will continue to supply such coloured paper products through
existing and alternative channels."

 

 

 

 

-ENDS-

Enquiries:

 

 James Cropper plc                                            Tel: +44(0)1539 722002

 David Stirling, Chief Executive Officer

 Andrew Goody, Chief Financial Officer

 Shore Capital - Nominated Adviser and Broker                 Tel: +44 (0)207 408 4090

 Daniel Bush, David Coaten, Henry Willcocks, Lucy Bowden

 IFC Advisory - Financial PR                                  Tel: +44 (0) 203 934 6630

 Graham Herring, Tim Metcalfe, Zach Cohen                     james.cropper@investor-focus.co.uk

About James Cropper plc

James Cropper plc is globally recognised for its specialist capabilities in
the design and manufacture of advanced materials and paper products. Operating
through two principal businesses - Advanced Materials and Paper &
Packaging - and built upon 180 years of innovation, the Group serves a diverse
range of customers with high-performance solutions tailored to specialised
applications.

The Advanced Materials business develops cutting-edge nonwoven materials and
electrochemical coatings for sectors including aerospace, clean energy, and
defence. The Paper & Packaging business offers premium creative papers and
bespoke moulded fibre packaging together with leading recycled-fibre
capabilities and products, supporting the transition to a circular economy.

Headquartered in Burneside (UK), with additional manufacturing sites in Crewe
(UK), Launceston (UK), and Schenectady (USA), James Cropper leverages deep
expertise in material science and longstanding partnerships with
industry-leading businesses and brands to develop bespoke solutions that meet
complex technical and aesthetic specifications.

The information contained within this announcement constitutes inside
information as stipulated under the UK's Market Abuse Regulation. Upon the
publication of this announcement, such inside information is now considered to
be in the public domain.

 

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