Upbeat James Cropper looks to future
THE chairman of the North West paper maker James Cropper has given an upbeat appraisal of its future performance.
Speaking at the Kendal firm’s annual meeting yesterday James Cropper, great great grandson of the founder, conceded the business was operating in a challenging environment but had managed a “much better” start to the financial year than in 2008.
Like-for-like volume at the speciality papers arm is down 12% but the division experienced a stronger opening quarter, and there are also signs of recovery in its technical fibre business.
“Despite the uncertainties surrounding the forward trend in exchange rates, quoted energy prices and pulp costs, Speciality Papers is expected to continue its recovery in the year ahead,” said Mr Cropper.
Sales of traditional mount board and display board products are down but there has been an increase in demand for digital printing boards in the US.
Mr Cropper added that borrowing was low due to tight working capital management but it is expected to increase in the second half to fund capital expenditure.
He said: “I am confident that in the short-term our existing management approach will enable the group to capitalise on opportunities when the economic climate becomes more favourable thus leading to significant growth in the medium to long-term.”
