Business
Full Year Trading Update
Full Year Trading Update.
About this update from James Cropper Plc
[{"type":"text","content":"\n\nTHE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT CONSTITUTES INSIDE INFORMATION AS STIPULATED UNDER THE UK'S MARKET ABUSE REGULATION. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, SUCH INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n \n7 May 2025\n \nJames Cropper plc\n('James Cropper', the 'Company' or the 'Group')\nFull Year Trading Update\nFY25 adjusted EBITDA in line with expectations\n \nJames Cropper plc (AIM: CRPR), the Advanced Materials and Paper & Packaging group, issues a trading update for the financial year ended 29 March 2025 (\"FY25\").\n \nSubject to completion of the external audit, the Board expects to report FY25 results as follows:\n\n\n\n\n·\n\n\nAdjusted EBITDA consistent with the Board's expectations and the prior financial period ended 30 March 2024 (\"FY24\");\n\n\n\n\n·\n\n\nGroup revenue marginally lower than FY24, with slightly higher Advanced Materials revenue offset by a less favourable product mix in Paper & Packaging compared to FY24;\n\n\n\n\n·\n\n\nGroup adjusted profit before tax slightly ahead of FY24, reflecting a lower depreciation charge than the prior period; and\n\n\n\n\n·\n\n\nNet debt at the period end improved against the FY24 period-end position due to a combination of lower capital expenditure in the period together with effective management of working capital.\n\n\n\n\n \nThe Board's expectations for the current financial year to 28 March 2026 (\"FY26\") are as follows:\n\n\n\n\n·\n\n\nAdvanced Materials: single-digit revenue growth, with planned investments in operations during the period focused on revenue growth beyond FY26.\n\n\n\n\n·\n\n\nPaper & Packaging: revenue at a similar level to FY25, with an internal improvement programme targeting significant cost savings, after some exceptional costs of delivery, aligned to operational improvement. The full benefit of these improvements is expected to come through in FY27, positioning the business for further earnings improvement.\n\n\n\n\n \nThe Group expects to provide a more detailed strategy update in June prior to release of its audited FY25 full year results in July.\n \nDavid Stirling, Chief Executive Officer, said:\n\"Since I joined the Group in January, we have commenced a rigorous assessment of the business, with plans to create further opportunitie...