TIDMCRPR

RNS Number : 1380M

Cropper(James) PLC

26 July 2017

26 July 2017

James Cropper PLC ("James Cropper", "Group" or the "Company")

AGM Statement and Trading Update

At the Company's Annual General Meeting held at 11.00am today, Mark Cropper, Chairman, made the following statement:

"I am pleased to report that the Group has enjoyed a promising start to the current financial year and has traded profitably in the first quarter and ahead of the prior year first quarter.

Group results for the quarter are in line with management expectations. The Paper business is experiencing an unforecasted increase in pulp price but growth is being realised from our focus on higher value niche markets such as packaging and digital. TFP growth has come from our energy, aerospace and industrial markets.

The commercialisation of James Cropper 3D Products (3DP) remains on track, with low level sales being achieved with commercialised contracts, and our expectation is that this will build over the year.

The Board believes our plans for the year will not be impacted by the UK's exit from the European Union.

Overall, the outlook for the Group remains in line with management expectations. TFP will continue to utilise available manufacturing capacity to accelerate sales into aerospace, green technologies and defence markets. Paper will be aiming to mitigate increased pulp prices by continuing to enrich its portfolio in profitable niche markets. 3DP will be focused on commercialising the sales pipeline. I am pleased with the progress we are making and confident of the Group's performance."

Mark Cropper

Chairman

 
 Enquiries: 
-------------------------  ----------------------------- 
 Isabelle Maddock, Group    Robert Finlay, Richard 
  Finance Director           Johnson, Henry Willcocks 
-------------------------  ----------------------------- 
 James Cropper plc          Stockdale Securities Limited 
-------------------------  ----------------------------- 
 Tel: 01593 722002          +44 (0) 207 601 6100 
-------------------------  ----------------------------- 
 www.cropper.com            www.stockdalesecurities.com 
-------------------------  -----------------------------

This information is provided by RNS

The company news service from the London Stock Exchange

END

AGMRFMPTMBITMMR

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July 26, 2017 06:00 ET (10:00 GMT)

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