Shares of James Cropper plc, the Kendal-based advanced materials and paper & packaging group, rose about 12% on Wednesday after it published a trading update for the 18-week period ended August 2, 2025, for its AGM.

Cropper shares are up about 25% so far in 2025.

“Performance in the period has been slightly ahead of expectations in both divisions with good progress in the execution of the board’s updated strategy, outlined at the Capital Markets Event on 18 June 2025,” said the firm.

“With disciplined cash management in line with our recently stated capital allocation policy, and the benefit of £1.2m net receipts from the sale of non-core assets, net debt of £10.3m as at 2 August 2025 has reduced from £12.9m since 29 March 2025 (FY25), the end of the group’s last financial year, and is £5.0m lower than the position at the same time last year.

“The board is confident in the performance of the group for the full year ending in March 2026, with the group targeting significant growth in Adjusted EBITDA against FY25.

“The roll out of our revised strategy is proceeding as planned with expectations of improved mid-term prospects of both the Advanced Materials and Paper & Packaging businesses.”

James Cropper CEO David Stirling said: “I am pleased we are making progress on our three key objectives: sales growth in Advanced Materials, improving profitability in Paper & Packaging and disciplined cash management to embed leverage below 2x EBITDA.

“The business is becoming more agile and streamlined to deliver our objectives, which will create long-term value for shareholders as we make progress against our recently introduced strategy.”