REG - Cropper(James) PLC - Full Year Trading Update

James CropperAnnouncement

07/05/2025 07:00

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RNS Number : 5748H  Cropper(James) PLC  07 May 2025

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7 May 2025

 

James Cropper plc

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

Full Year Trading Update

FY25 adjusted EBITDA in line with expectations

 

James Cropper plc (AIM: CRPR), the Advanced Materials and Paper &
Packaging group, issues a trading update for the financial year ended 29 March
2025 ("FY25").

 

Subject to completion of the external audit, the Board expects to report FY25
results as follows:

 ·   Adjusted EBITDA consistent with the Board's expectations and the prior
     financial period ended 30 March 2024 ("FY24");
 ·   Group revenue marginally lower than FY24, with slightly higher Advanced
     Materials revenue offset by a less favourable product mix in Paper &
     Packaging compared to FY24;
 ·   Group adjusted profit before tax slightly ahead of FY24, reflecting a lower
     depreciation charge than the prior period; and
 ·   Net debt at the period end improved against the FY24 period-end position due
     to a combination of lower capital expenditure in the period together with
     effective management of working capital.

 

The Board's expectations for the current financial year to 28 March 2026
("FY26") are as follows:

 ·   Advanced Materials: single-digit revenue growth, with planned investments in
     operations during the period focused on revenue growth beyond FY26.
 ·   Paper & Packaging: revenue at a similar level to FY25, with an internal
     improvement programme targeting significant cost savings, after some
     exceptional costs of delivery, aligned to operational improvement. The full
     benefit of these improvements is expected to come through in FY27, positioning
     the business for further earnings improvement.

 

The Group expects to provide a more detailed strategy update in June prior to
release of its audited FY25 full year results in July.

 

David Stirling, Chief Executive Officer, said:

"Since I joined the Group in January, we have commenced a rigorous assessment
of the business, with plans to create further opportunities for mid-term
growth in Advanced Materials, a structured and focused programme of work to
realise improvements in our Paper & Packaging business, and a focus on
cash management.

"That work is progressing well, and I expect to provide a more detailed update
in June."

 

Enquiries:

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

 David Stirling, Chief Executive Officer

 Andrew Goody, Chief Financial and Operations 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

 

Notes for editors:

 

James Cropper is a market leader in Advanced Materials and Paper Products,
centred around four market audiences: Future Energy, Technical
Fibres, Luxury Packaging and Creative Papers.

 

A purpose-led business, built upon six generations of the Cropper family,
James Cropper has a 500+ 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.

 

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