IN BRIEF: James Cropper shares rise on positive trading update
James Cropper PLC - Kendal, England-based materials, paper and packaging group - Issues a trading statement for the 18 weeks ended Tuesday, ahead of its annual general meeting on Wednesday morning. Says performance, in both its Advanced Materials and Paper & Packaging divisions, has been "slightly ahead of expectations". Net debt as of Tuesday totals GBP10.3 million, reduced from GBP12.9 million at March 29. James Cropper credits its "disciplined cash management" and GBP1.2 million in net receipts from the sale of non-core assets. Says it is confident in its performance for the year ending in March, and is aiming for "significant [on-year] growth" in adjusted earnings before interest, tax, depreciation and amortisation. Also expects "improved mid-term prospects" for both divisions. Read More