Interim Results for the 26 weeks ended 29th September 2007

	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

“TFP’s new facility in Cheshire and its US acquisitions strengthen its long-term position in specialised non-woven insulating and composite markets. Sales performance by TFP in the current year is encouraging. However profit growth will not be at the exceptional rate achieved in the previous year”.

“Given the uncertainties surrounding the recent strong upward trend in forward quoted energy prices and in rising pulp costs, the outlook for Speciality Papers is difficult to project. It should therefore be anticipated that the profitability of Speciality Papers will slow during the course of the second half-year as a consequence of the inevitable time lag before these costs can be recovered through increasing prices to customers”.

“Overall the Group’s progress in the first-half has been satisfactory and I am pleased that it
has been possible to increase the interim dividend as a consequence. However, it is too early in the financial year to consider whether an adjustment to the final dividend would be
appropriate”.

J A Cropper, Chairman

Download the full PDF version of the Interim Results Ending 29th September 2007 (88Kb) and the Investor Briefing (6,704Kb)

This file can be read using the Adobe Acrobat® Reader. If you haven't already got this then you can download it from the Adobe website by clicking on the link below.

Adobe® Acrobat® Reader™ is free, and freely distributable, software that lets you view and print Adobe Portable Document Format (PDF) files. Note: You will receive the most recent version of Acrobat Reader that is available for your language and platform.