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Preliminary Results for the Year Ending 28th March 2009
“In the second half of the financial year Speciality Papers made significant progress in
reducing its first half losses”.
“TFP’s good performance is expected to continue. It is beginning to experience an increase in
demand for materials to service aerospace, security and fuel cell markets, all of which are of
strategic long-term importance to the business. Sales in the first half of the new financial year
will be depressed as a consequence of re-structuring at a major customer, but it is anticipated
that strong growth will resume in the second half”.
“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”.
“The down-turn in the global economy creates a challenging trading climate for the Group. Nevertheless, 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”.
Extract of the statement by the Chairman, J A Cropper
The full statement can be download below.
Enquiries:
James Cropper plc
John Denman, Group Finance Director
Tel: 01539 722002
Brewin Dolphin Securities Ltd
Andrew Kitchingman, Managing Director
Corporate Finance
Tel: 0845 270 8613
Mobile: 07785 708167
Download the full PDF version of the
Preliminary Results Issued June 2009 (85k)
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Download the full PDF version of
the
Investor Briefing Issued June 2009 (2115k) |
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Interim Results for the period ending 27th September 2008
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Half
Year to September 2008 |
Half
Year to September
2007 |
Full
Year to March 2008 |
| Turnover |
£37.7m |
£35.7m |
£72.7m |
| Group profit
before tax |
|
|
|
| Prior
to IFRS |
(£0.2m) |
£1.4m |
£2.0m |
| After
IFRS |
(£0.3m) |
£1.3m |
£1.6m |
| Earnings
per share |
(2.9p) |
10.4p |
14.0p |
| Dividend
Interim |
1.1p |
2.2p |
7.3p |
| Gearing |
37% |
21% |
23% |
- “TFP enters the second half-year with a healthy order book. TFP is beginning to
experience an increase in demand for materials to service the fuel cell market,
particularly with regard to free-standing phosphoric acid units. These are encouraging
developments”.
- ”Given the uncertainties surrounding the forward trend in exchange rates, quoted
energy prices and pulp costs, the outlook for Speciality Papers is difficult to project. The
impact of the increasing cost base will be mitigated in the second half of the year by
further sales price increases. It is not anticipated that losses in Speciality Papers will
grow significantly over the remainder of the financial year.”
- “There is no doubt that the current financial year will be challenging. Nevertheless, I am
confident that through our existing management approach and a combination of
profitable sales growth, product development, energy savings and efficiency
improvements, the Group will be well equipped to capitalise on opportunities when the
economic climate becomes more favourable.”
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the
Interim Results Ending September 2008 (137Kb)
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Investor Briefing (2,044Kb)
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Director/PDMR Shareholding - 26th September 2008
Long Term Incentive Plan Award
On 19 September 2008, under the terms of The James Cropper PLC 2008
Long Terms Incentive Plan, the following executive directors were granted
awards by James Cropper EBT Limited, trustees of the James Cropper Employee
Trust.
| Name |
Shares Under Conditional Award |
Percentage of Issued Shared Capital |
| A. I. Lewis |
25,000 |
0.30% |
| J. M. Denman |
20,000 |
0.23% |
| N. A. Read |
20,000 |
0.23% |
| P. J. Willink |
20,000 |
0.23% |
| G. T. Quayle |
20,000 |
0.23% |
The number of shares referred to is the maximum available and the conditions
on which the awarded shares will vest are as follows:
- if the Company's adjusted earnings per share for the financial period
ending 31 March 2011 exceeds its adjusted earnings per share for the
financial period ending 31 March 2008 by the increase in the retail
prices index over the three year period commencing with the date of
grant if the awards plus 2.5% per year (the 'minimum target'), the
awards will vest as to 10%;
- if the Company's adjusted earnings per
share for the financial period ending 31 March 2011 exceeds its adjusted
earnings per share for the financial period ending 31 March 2008 by
the increase in the retail prices index over the three year period
commencing with the date of grant of the awards plus 10% per year (the
'maximum target'), the awards that will vest in full; and
- if the Company's
adjusted earnings per share for the financial period ending 31 March
2011 exceeds its adjusted earnings per share for the financial period
ending 31 March 2008 by more than theminimum target but by less than
the maximum target, the proportion of the awards that will vest will
increase from 10% to 100% on a straight line basis.
2/…
The participating directors will, following the end of the performance
period, be notified as to the extent to which the performance conditions
have been met and their awards have vested. They will then, provided
that that they continue to remain directors or employees of the Company,
have up to six months following 19 September 2011 (the third anniversary
of the date on which the awards were granted) in which to secure the
release of the ordinary shares.
Enquiries:
John Denman, James Cropper plc
Tel: 01539 722002
AGM Chairmans Statement - 30th July 2008
Statement by the Chairman, J A Cropper
“The performance of the Group in the opening quarter has been dominated
by severe increases in energy costs, primarily that of gas. This has
principally affected James Cropper Speciality Papers, which traded at
a loss during the quarter. This underlines the difficult trading climate
that currently faces this subsidiary that I signalled in the preliminary
results statement.”.
The full Chairmans statement can be viewed by opening the PDF document
below.
Enquiries:
John Denman, James Cropper plc
Tel: 01539 722002
Download the full PDF version of
the
Chairman's AGM Statement (110Kb)
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Preliminary Results for the Year Ending 29st March 2008
“Although sales growth was sustained across all four subsidiaries
during the year, maintaining margins proved to be difficult, especially
in our core paper-making business, which posted a good result against
a background of rapidly escalating energy and pulp costs. The overall
impact on the Group of currency exchange rate movements was broadly neutral.
Gearing remained low at 23%, in line with last year”.
Extract of the statement by the Chairman, J A Cropper
The full statement can be download below.
Enquiries:
James Cropper plc
Alun Lewis, Chief Executive
John Denman, Group Finance Director
Tel: 01539 722002
Brewin Dolphin Securities Ltd
Andrew Kitchingman, Managing Director
Corporate Finance
Tel: 0845 270 8613
Mobile: 07785 708167
Citigate Dewe Rogerson Ltd
Keith Gabriel, Senior Account Manager
Tel: 0121 455 8370
Mobile: 07770 788624
Download the full PDF version of the
Preliminary Results Issued March 2008 (122k)
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Download the full PDF version of
the
Investor Briefing Issued June 2008 (2105k) |
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Trading Statement - 28th January 2008
Extract of the Statement by the Chairman, J A Cropper
"In the Preliminary Statement issued on 19 June 2007 I highlighted
the exceptional nature of TFP's performance over the previous financial
year and the challenges faced in maintaining the momentum of profitable
growth in the current year. Whilst turnover growth has met expectations
over the course of the current financial year, the impact of a changing
product mix has diluted margin, which combined with the weakness of the
US$ and the higher cost base resulting from the strategic acquisition
of two new US subsidiaries earlier in the year, means that TFP's profit
will be lower than last year. Turnover growth is expected to remain strong
in both established and emerging markets."
Enquiries:
John Denman, James Cropper plc
Tel: 01539 722002
Download the full PDF version of
the
Trading Statement made on 28th January 2008 (30Kb)
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Interim Results for the 26 weeks ended 29th September 2007
| |
Half
Year to September 2007 |
Half
Year to September
2006 |
Full
Year to March 2007 |
| Turnover |
£35.7m |
33.0m |
69.1m |
| Group profit
before tax |
|
|
|
| Prior
to IFRS |
£1.4m |
£1.0m |
£2.5m |
| After
IFRS |
£1.3m |
£0.8m |
£2.1m |
| Earnings
per share |
10.4p |
6.4p |
16.2p |
| Dividend
Interim |
2.2p |
1.9p |
7.0p |
| Gearing |
21% |
37% |
23% |
Download the full PDF version of
the
Interim Results Ending 29th September 2007 (88Kb)
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Download the full PDF version of
the
Investor Briefing (6,704Kb)
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- Encouraging growth in turnover by TFP and Speciality Papers
- TFP acquires US based supplies of metal-coated
fibres for a combined purchase consideration of approximately £0.5
million
- Weakening US$ adversely impacting on margins if TFP and Converting
- Strong upward trend in pulp and energy costs anticipated in
second-half
- Significant reduction in IAS19 pension deficit
- Transfer from Main List to AIM successfully completed on 31 August2007
AGM - TFP Overview Presentation - 1st August 2007
Enquiries:
John Denman, James Cropper plc
Tel: 01539 722002
Download the full PDF version of
the
AGM - TFP Overview Presentation - 1st August 2007 (408Kb)
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AIM Schedule 1 Pre-Admission Announcement - 1st August 2007
Enquiries:
John Denman, James Cropper plc
Tel: 01539 722002
Download the PDF version of
the
AIM Schedule 1 Pre-Admission Announcement (25Kb)
|
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AGM and EGM Proxy Results - 1st August 2007
Enquiries:
John Denman, James Cropper plc
Tel: 01539 722002
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AGM and EGM Proxy Results (41Kb)
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AGM Chairmans Statement - 1st August 2007
Statement by the Chairman, J A Cropper
“I am pleased to report that Technical Fibre Products (“TFP”)
and James Cropper Speciality Papers (“Speciality Papers”)
traded strongly in the opening quarter with turnover significantly higher
than in the same period last year.
Overall Group turnover in the first quarter was £17.9 million,
11% up on the previous year”.
The Chairmans statement can be viewed by opening the PDF document below.
Enquiries:
John Denman, James Cropper plc
Tel: 01539 722002
Download the PDF version of the
Chairmans AGM Statement (10Kb)
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