26th Sep 2023 13:01
(Alliance News) - James Cropper PLC on Tuesday said it has kept its full-year outlook unchanged, as it performs in line with expectations so far in its financial year.
Ahead of its annual general meeting Tuesday, the Cumbria, England-based paper, packaging and advanced materials manufacturer said revenue in the start of its financial year has been "broadly" in line with the board's expectations. The company's financial year ends April 1.
It noted strong gross margins and improvement in the cost landscape, leading to operating profit in line with expectations.
"Although economic conditions remain challenging, the group's performance was supported by the ongoing reduction in raw material costs and success in securing lower energy prices," James Cropper added.
Looking ahead, James Cropper's expectations for full year performance remain unchanged.
Shares in James Cropper were down 0.1% to 784.50 pence each in London on Tuesday afternoon.
By Sophie Rose, Alliance News reporter
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