Shares of James Cropper plc, the Kendal-based advanced materials and paper & packaging group, rose about 11% after it published a positive trading outlook and also results for the year ended March 29, 2025.

“For FY26, the board expects to see the initial results from the implementation of the new strategy and is confident that the group will deliver significant growth in Adjusted EBITDA profitability against FY25,” said Cropper.

“Trading in the first quarter was ahead of the board’s expectations and at a similar level to the strong start recorded in FY25.

“Despite headwinds from the loss of business at a merchant customer, as previously announced, expectations are for Paper & Packaging to deliver a significant improvement in Adjusted EBITDA against FY25, and to achieve run-rate Adjusted EBITDA breakeven in the final quarter.

“The Advanced Materials business is expected to report high single-digit revenue growth for full year FY26, with planned operational cost investments during the period focused on revenue growth beyond FY26.”

For the year to March 29, 2025, James Cropper said group revenue fell 4% to £99.3 million but adjusted profit before tax rose 77% to £1.3 million.

James Cropper CEO David Stirling said: “This is a period of change for the group, and after six months as CEO, I am encouraged by the progress we have made in laying the groundwork for future success. We have a clear strategic direction, a focused plan of execution, and a stronger foundation from which to build.

“At our Capital Markets Event in June, we set out a refreshed group strategy, one that positions Advanced Materials for organic growth by unlocking the potential of our technology platforms and concentration of resources on certain high-value opportunities.

“In Paper & Packaging, a focus on operational stability and clarity on priorities, along with product mix adjustments is already helping to drive more efficient operations and more resilient outcomes. Backed by a disciplined capital allocation framework, we are committed to creating long-term value for our shareholders.”

“This is a period of change for the Group, and after six months as CEO, I am encouraged by the progress we have made in laying the groundwork for future success. We have a clear strategic direction, a focused plan of execution, and a stronger foundation from which to build.

“At our Capital Markets Event in June, we set out a refreshed Group strategy, one that positions Advanced Materials for organic growth by unlocking the potential of our technology platforms and concentration of resources on certain high-value opportunities. In Paper & Packaging, a focus on operational stability and clarity on priorities, along with product mix adjustments is already helping to drive more efficient operations and more resilient outcomes. Backed by a disciplined capital allocation framework, we are committed to creating long-term value for our shareholders.”