Cost of materials hit paper firm’s profits
The cost of raw materials affected profits at Kendal based paper firm James Cropper.
Revenues were up at the firm, but profits fell as a result of increased costs.
Revenues passed the £100m mark and were up to £101m from £96.3m the previous year.
However operating profit was down to £4.3m from £6.1m.
Adjusted profit before tax was £4m compared to £5.8m the previous year.
Chairman Mark Cropper said: "This has been another challenging year for the group, with profit before tax falling by 43% to £2.6m.
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