News blog
James Cropper
- BY: Andrew Hore |
- POSTED: 17/11/2009 |
Paper and speciality fibres manufacturer James Cropper returned to profit in the six months to September 2009.
Speciality papers recovered but the second half will be affected by the rising cost of pulp. Energy costs are expected to be lower.
Last year’s interim loss of £261,000 was turned into a profit of £1.66m in the six months to September 2009. Revenues fell from £37.7m to £35.9m. The interim dividend has been increased from 1.1p to 1.2p a share.
There was also strong cash inflow in the period. Net debt was reduced from £4.45m to £1.03m in the six months to September 2009. Capital spending will increase borrowings by the end of March 2010. However, the pension deficit increased from £6.54m to £9.3m.
Technical fibre products sales fell 17% during period. The order book is down considerably and is unlikely to improve until 2010.
At 155p a share, Cropper is valued at £13.1m.
© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|