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James Cropper H1 profits and revenues rise

Advanced materials and paper products group James Cropper's pre-tax profits rose to £2.3m in the six months to the end of September - up from £2.0m last time.

Adjusted pre-tax profits (prior to IAS 19 impact) at £2.8m was up 17% on last year.

Revenues of £47.4m were up from £45.4m and basic earnings per share rose to 23.1p from 17.4p.

The interim dividend was unchanged at 2.5p per share.

Chairman Mark Cropper said: 'TFP has delivered its best ever sales performance for a half year and is set to continue growth in the second half.

'Although Paper is facing severe headwinds from the price of pulp this year, it has so far remained resilient and I am confident that future growth prospects continue to strengthen.

'3DP is still at an early stage but its potential is being proven with commercial contracts and increasing interest in the sustainable and aesthetically superior alternative it offers over plastic packaging.

'Within the Group we continue to invest significantly in people, markets, innovation and equipment.

'This will ensure that over the long term the Group has the potential to sustain growth across all its businesses.

'In the nearer term, the full year is expected to deliver in line with the Board's expectations.'

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