Cropper reports robust first half

Speciality papermaker James Cropper has been boosted by its interim results, which show an increase in turnover and pre-tax profits.

Results up to 25 September put turnover at 30.2m, up 10% from the same period last year. Group pre-tax profits went up to 811,000 compared to 95,000 in 2003.

 

As well as its specialist papermaking division, the group said that sales for its technical fibre arm continued to grow in the US, while its Paper Mill Shop division has grown to 15 stores throughout the UK.

 

But James Cropper group finance director John Denman warned that performance in the second half of the year could be hampered by rising energy costs.

 

"This is an area that we can do little about and in the short term there could be difficult conditions," he said.

The group's full year results to March this year, posted a slump in pre-tax profits by 58% and a 3% dip in turnover.

Story by Philip Chadwick