James Cropper reports positive start to new financial year

(Sharecast News) - Advanced materials and paper and packing company James Cropper updated the market on its recent trading on Wednesday, reporting a positive start to the financial year, recovering from the challenging market conditions experienced in the latter half of the 2024 period. The AIM-traded firm, which was holding its annual general meeting, said trading was in line with the board's expectations, although behind the levels seen in the same period last year, particularly in the advanced materials division, where fuel cell revenue was previously strong.

Despite a soft luxury packaging market, the paper and packaging division was showing signs of recovery, with new key contracts secured.

The advanced materials business continued to see strong sales opportunities, especially in its hydrogen electrolyser segment, where investments were being made to meet anticipated demand.

James Cropper's board said it remained confident in the mid-term prospects for both divisions, with full-year expectations unchanged.

"We have made a positive start to the financial year across both advanced materials and paper and packaging, with revenue run-rates and profitability improving against the performance seen during difficult market conditions in the second half of the 2024 financial year," said chief executive officer Steve Adams.

"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."

At 1001 BST, shares in James Cropper were flat at 260p.

Reporting by Josh White for Sharecast.com.