Paper and speciality fibres manufacturer James Cropper says that its interim profits will be much better than expected.
At 140.5p a share, up 15.5p on the day, Cropper is valued at £11.9m.
The speciality paper business has traded strongly, although a rising pulp price will hit the second half.
However, technical fibre products has been hit by destocking. This should be a short-term thing but the timing of recovery is difficult to predict.
Full year profits to March 2010 are expected to be better than the £1.6m originally forecast.
Interim results will be announced on 17 November 2009.
© 2021 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.