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
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.
