Shares of James Cropper plc, the Kendal-based Advanced Materials and Paper & Packaging firm, rose as much as 25% on Tuesday after it published a trading update for its financial year ended March 28, 2026.
Cropper said it expects to report FY26 group revenue of £103 million, 4% higher than FY25, and adjusted EBITDA of £8.8 million, 10% ahead of market expectations and more than 30% ahead of the prior year.
“Advanced Materials delivered high single-digit percentage adjusted EBITDA growth, with increased investment in operational costs to support medium-term growth,” said the firm.
“Paper & Packaging saw significantly reduced EBITDA losses for the full year, with the second six months of the year delivering an EBITDA profit.”
On current trading, Cropper said: “Trading momentum into the new financial year has been positive, with the group’s strategy and operational improvement programme continuing to track in line with the board’s strategic plan.
“The board continues to monitor the evolving geopolitical situation in the Middle East. While the ultimate impact on markets and input costs remains uncertain, the group is actively managing its position through hedging, pricing actions and procurement discipline.”
On its current trading, Cropper said: “Overall, the board remains confident in the medium–term prospects of both divisions, underpinned by disciplined execution of the group’s strategy and continued focus on operational delivery.
“In Advanced Materials, the board reaffirms its medium-term expectation of underlying double-digit growth; the group expects growth in the current year to be linked to customer demand patterns and broader market conditions.
“In Paper & Packaging, the board remains confident in delivering continued improvements in performance, with an expectation of delivering positive adjusted EBITDA across FY27.”
James Cropper CEO David Stirling said: “I am pleased to report a good performance in what remains a cautious and uncertain market environment.
“We have made structured progress in stabilising the business, which is reflected in the robust EBITDA and cash generated in the year.
“We remain confident in the medium-term outlook and are focused on maintaining a balanced approach, positioning the group to benefit as conditions improve.”