James Cropper on track to beat expectations

PAPERMAKER James Cropper said it plans to beat market expectations with its full-year profits.

In a trading update covering the year to March 28 the Kendal-based company said pre-tax profit should be at least £700,000, “barring any unforeseen circumstances”.

This compares to a first-half loss of £261,000 which the group blamed on the rocketing price of gas during the period.

Chairman James Cropper, the great great grandson of the founder, said the technical fibre products division had traded strongly while the speciality papers business, “made significant progress” in cutting first-half losses.

In addition the group’s full-year pension adjustment charge was less than expected. Full-year figures will be announced on June 23.