15th Dec 2015 09:06
LONDON (Alliance News) - Paper products company James Cropper PLC on Tuesday said it expects to book an exceptional charge this year from damage caused to its factory in Cumbria by Storm Desmond, but backed its underlying trading expectations.
Last week, James Cropper said its Burneside factory suffered damage to warehousing, facilities and materials after part of the site was flooded after the storm.
The group said Tuesday it expects it will book a GBP1.0 million exceptional charge for the financial year to April 2, 2016, related to the damage, but said it expects its performance outside of this to remain in line.
Production of paper products resumed fully from the site last week and full production is expected to be back on line by early January, the company said.
James Cropper shares were untraded on Tuesday, having last traded at 622.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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