Preliminary results for the year ended April showed that group pre-tax profits had jumped from 785,000 to 1.7m. For the paper division, operating profit grew to 1.6m from 415,000. Group turnover was also boosted by 11% to 64.6m.
It followed warnings by the group that the second half of the year would be hampered by rising energy costs.
"Although the cost of natural gas continued to rise during the second half, that projection proved to be over cautious," said chairman James Cropper. "The cost of natural gas is projected to rise further during the course of 2005."
Despite the boost for the group, operating profits for James Cropper's converting division declined to 302,000 from 394,000.
Story by Philip Chadwick
