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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Cropper (james) Plc | CRPR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 260.00 | 07:32:49 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 260.00 |
| Top Posts |
|---|
Posted at 05/4/2024 16:11 by sspurt Interesting stuff Darrin.I can only guess the market makers book is all over the shop at the tax year end as Private investors do their last minute tax planning. Anyways at a mkt cap of £23m the shares are looking a whole load more interesting now. I am happy they will survive anything other than a savage eco0nomic depression - just a question of how quickly they can cut their hydrogen market costs and limit paper losses. |
Posted at 20/1/2024 21:13 by pugugly Frenchfry_ Maybe investors need to ask serious questions if you are correct.Do you know how what percentage of the shares he holds personally? All the website gives is that the family holds 33.3% |
Posted at 30/8/2023 15:56 by gopher Investor Meet presentation ~ Its clear the paper division has proved a drag on performance over the years, it's still a major part of group revenues but just not profitable hence restructuring going ahead; however luxury packaging is a good market. There are some interesting growth divisions here including hydrogen. This is a company that invests quite heavily in its business but I think investors need to see improved financial results come through. |
Posted at 15/11/2022 17:18 by arthur_lame_stocks Any thoughts on the results?No real surprises I thought. One thing that did catch my eye was this paragraph: "The appointment of Steve Adams as CEO, as announced on 10 August 2022, creates an opportunity for a division portfolio review, to ensure we deliver on our short and long term goals as we enter a new phase of growth. As an existing Executive Director of the Company and Managing Director of the James Cropper Paper Division, Steve joined the Company in 2017 and is perfectly positioned to oversee this work, which is already underway." I wonder if they might actually be thinking about disposing of the paper manufacturing? It's the largest division by turnover but has always been an unreliable profit source. It will, however, probably have a lot of assets so should be worth a bit in a sale. I think if they did get rid of this and focused on TFP and Colourform we would see a step change in profitability and the attractiveness of these shares to investors. |
Posted at 26/6/2022 10:05 by arthur_lame_stocks The investors' Chronicle have called this a sell.I actually disagree somewhat and would like to buy but hopefully they will get cheaper before things get better. |
Posted at 25/4/2020 15:44 by pireric Liontrust from JanuaryHold: James Cropper (CRPR) Stevens classes herself as a “buy and hold” investor, who doesn't like to trade in and out of stocks, even though the micro-cap space can be volatile, which can create trading opportunities. “We like to hold companies for the long term and let the businesses do the work for us by growing,” she says. “ It allows us to be more relaxed about timing, not to worry about when to enter or exit from a position.” James Cropper has been in the fund since March 2017, and she has topped up the holding along the way. She says: “It’s an interesting business located in the Lake District. They have been producing paper for over 200 years.” The company has three divisions; the main one makes the low-volume high-quality coloured paper that it’s used in Burberry carrier bags, while the most profitable one is Technical Fiber Products, which provides the aerospace industry with a material made up of carbon fibres called non-woven. “You can find it on the outside of aircrafts made by Boeing and Airbus, and Ferrari and Lamborghini use it in their cars," says Stevens. The third division is 3D Print, which produces environmentally-frie |
Posted at 02/6/2015 11:46 by sharesoc We are holding one of our popular Investor Masterclasses in Manchester so local investors and shareholders in CRPR may be interested in attending as CRPR is based nearby our venue... |
Posted at 10/11/2006 09:29 by jonwig Buy recommendation came in an e-mail today from UK-Analyst:James Cropper manufactures specialist card and paper in low volumes for niche customers at its Specialty Papers division. An example of this is the casings for well-known whisky brands, as well as the high-quality paper used for the coverings of many annual reports. The company is a major player in this market as there are not many competitors that could match Cropper's ability to turn around low volumes in such a wide range of colours. The company also retails its paper directly to the public via the Paper Mill chain of shops. Cropper's Technical Fibre unit weaves ultra thin products from a range of more than 30 different fibres to meet specific applications. Its products can be used for anything from fire insulation to batteries and electrical appliances. This unit is proving to be the rising star of the company and we believe that US sales of fire-insulating materials will generate strong growth going forward. The company's Converting division adds value to base paper and card products by laminating, coating and embossing the main end-use of these products is in Point of Sale displays. There is no getting away from the fact the last set of full year results to 1st April 2006 were appalling. Cropper was forced to halve its dividend to 4.1p after turning in a pre-tax loss of 300,000 pounds, compared with a pre-tax profit of 1.6 million pounds in the previous year. This was a result of the gas bill rising to 3.2 million pounds from 2 million pounds and pulp costs growing by around 800,000 pounds, despite lower volumes. Investors deserted the stock. However, Cropper is extremely operationally geared and successful cost-cutting coupled with sales growth and a reduction in gas prices is likely to result in a raft of increases to brokers forecasts. We do not believe that this is in the price. The assessment of its prospects at the time of the interim numbers did not make comfortable reading. The main concern was with its Specialty Papers unit. The group said that the outlook for the division would remain difficult for the foreseeable future, given the volatile nature of energy markets. Global pulp inventories were also in decline due to strong demand and reduced pulp production after plant closures in North America . This was hitting input costs and the group accepted that the profitability of the unit would deteriorate further in the short term. MANAGEMENT Chairman James Cropper was born in 1938 and is the great-great-grandson of the founder of the company. He was educated at Eton and Cambridge University graduating with a degree in Law. After training as a chartered accountant with Price Waterhouse in Newcastle , he joined the family firm in 1966. He retired as Chief Executive in December 2000 but continues to act as Chairman. Cropper is also Lord-Lieutenant of Cumbria . Chief Executive Alun Lewis also acts as General Manager of the Converting Division. He has a degree in biochemistry and an MBA from The University of Central Lancashire. He cut his industry teeth at Wiggins Teape, where he gained manufacturing experience in a variety of roles. He joined James Cropper in 1987 as Finishing Production Manager. He was appointed to the Board in 1998 and became Chief Executive with effect from January 2001. Finance Director, John Denman, has a degree in physics and trained as a chartered accountant with Deloitte & Co in London . Subsequently he held a variety of roles with British American Tobacco, Glaxo, Halfords and BT Marine. Denman joined the group and the board in 1995 following the acquisition of BT Marine by Cable & Wireless. *This email represents the views of UK-Analyst and are not the views of IG Index. Remember that spread betting is a leveraged product and can result in losses that exceed your initial deposit. It may not be suitable for everyone, so please ensure that you fully understand the risks involved. The value of investments can go down as well as up. Investing in equities can lose you part or all of your capital. Smaller company shares can be relatively illiquid and thus hard to trade. And that makes such investments more of a high risk than larger company shares. The Small Cap Shares newsletter is owned by t1ps.com which is authorised and regulated by the FSA and can be contacted at 49 Rivington St, London EC2A 3QB or on 0207 033 9389. CURRENT TRADING Following the gloomy results announcement in June, the market was not expecting much from an AGM update in August. As it happened, life at Cropper had turned around in a spectacular fashion. The company revealed that it had traded profitably in the first three months of the current financial year. The star of the update was the Technical Fibre Products division, where profits were well ahead of the same period last year, despite the weakening dollar. The growth was put down to a resurgence in commercial aircraft building as well as the development of new-concept military aircraft using composite materials. It also revealed that European sales of insulation and composite materials for use in transportation and industrial applications were also progressing well. The major concern surrounded the performance of the Speciality Papers unit. There was some good news on this front, but the company was still cautious on the outlook. We believe that they were overly conservative. By far the best news was the division traded profitability in the first quarter. Further price rises are also in the process of being agreed with customers. The Converting division also appeared to make encouraging progress. The targeted investment and product rationalisation was to be completed by the early autumn, allowing the decommissioning of older equipment. This development would lead to significant improvements in capability, output and productivity, resulting in increased profitability in the second half of the year. In the current retail environment, The Paper Mill Shop incurred a loss in the first quarter of the financial year. This is a little disappointing, but traditionally this is a quiet trading period for the business. No new store openings are expected in the remainder of the current year, but Cropper is set to launch its online store imminently and in time for Christmas. First quarter gas costs were 9% higher than the 2005 comparable period. If latest market forecasts materialise, gas costs for the full year will rise 20% year-on-year but we believe that this will not be the case. There is now actually a downward pressure on wholesale gas prices. Cropper has also fitted a waste heat recovery unit at its CHP plant, which should become operational in the next few months. It is expected to cut gas consumption by up to 5% per year. The investment cost 400,000 pounds but it is expected to save 200,000 pounds a year in energy costs. THE ISSUES While the amount Cropper spends on gas is likely to be higher this year, it will be significantly below projections. The wholesale gas market is oversupplied and prices are falling. On 1st October the wholesale gas contract for immediate delivery crashed in value as peak winter import volumes hit the UK network, creating a vast supply excess. This is good news. The pulp price is still a problem. There are still structural pressures on price, with global pulp inventories continuing to decline. This is due to strong demand and reduced pulp production in the US . The company said it now believed that the cost of pulp in the current year would be around 9% higher than last year. The rising cost of pulp has been factored into the market forecast for some time, but the good news on gas prices has not. We expect upbeat statement at the interim results in November and this will be a catalyst for brokers to increase forecasts which will drive a re-rating. Cash management is under tight control Gearing, at 46% is higher than in the past but there is cash of 1.8 million pounds in the bank and we imagine that as trading picks up, gearing will be brought down to historic norms of c30% within 18 months. The board is focused on minimising energy costs, improving efficiencies and reducing its dependence on external waste water treatment. Last year's interest costs of 888,000 pounds were almost covered by the tumbling operating profits but not quite. With the recent improvement in trading, however, we do not see this becoming an issue going forward. Interest costs will be more than twice covered this year and interest cover will increase thereafter. What is more, Cropper aims to shift its product mix to even higher-margin business. This is all very positive stuff and underpins our view of Cropper being a solid recovery play. CONCLUSION James Cropper has had a torrid time over the last 18 months as the price of its input costs spiralled out of control. The company is a high gas user and pulp prices have been inflating rapidly. This led to a fall in the share price as investor confidence waned. However, following the recent trading update Cropper has demonstrated its determination to tackle this issue and we firmly believe that the stock is at an inflection point. The dollar has moved in a way that benefits the company and, with energy costs set to come in below expectations, we see the interim statement in November as prompting a raft of broker upgrades. At best, the market was looking for the company to hit breakeven in the year to 31st March 2007, but we now believe that pre-tax profits could actually hit 500,000 pounds, rising to 2.2 million pounds in the following year. This is significantly ahead of current market forecasts. Our estimate for the year to March 2008 is therefore more than double the current market estimate. Brokers are forecasting earnings per share for next year of 12.5p, which would leave the shares trading on a price earnings multiple of 12.5 times. Once the forecast upgrades hit home, this multiple will tumble and the shares will be re-rated. We also expect the progressive dividend policy to re-restart immediately and forecast dividend payments of 6p in the current year. The shares trade at a steep discount to net assets of 226p per share. Cropper has high operational gearing and the experienced management team is making significant headway towards resuming profitability. In the long term, there is a possibility of supplying specialist paper for catalytic converters in a joint venture with Johnson Matthey. That would be a bonus. But even on what will be achieved this year the shares are a BUY . Key Data EPIC: CRPR Mkt: Full List Spread: 150p - 160p |
Posted at 21/2/2004 18:15 by acol capercaillieYou asked the quite valid question 'Who is Peter O'Reilly' I don't know the answer to that one but interestingly a Peter Reilly has recently taken a stake of just over 3% in On-Line. That man has been described as a shrewd investor. Unlike Cropper, On-Line appear to be on the ascendency. Two quite different businesses but arguably both under-valued. It would be interesting if they are the same person. |
Posted at 02/1/2004 10:38 by capercaillie Found the following on t1ps.com. It states that Crpr CEO (Alun Lewis)is to attend their April convention. Good to see that the company are trying to raise their profile and expand the shareholder baseMaster Investor 2004. Our big annual convention is still six months away but already around 40% of the 1,250 tickets have been taken and we have not even started marketing it outside t1ps at this point. The even is already looking better than last year with new speakers signed up to bolster the panel. Our latest inclusion is Bruce McWilliams my successor at RHPS who quit (sensible chap) to return to his native California to write about US growth stocks. I am looking forward to Bruce linking up on April 17th with Alpesh Patel and Rich Hefter (another Californian small cap guru) for a cracking session on investing in the US. The key speakers are, of course, Nigel Wray, Mark Slater and Evil but we should have another couple of names lined up to join the panel soon. And the list of companies whose CEO's will be hosting stalls on the day is also growing at a rapid rate - the latest recruits being Universe Group and Centamin Egypt. They join Watermark, Aquarius Platinum, Golden Prospect, James Cropper, Mano, Caledon, Avon Rubber, PCF and many others. The list grows by the week. More details of Master Investor 2004, and details of how you can reserve a FREE ticket (normal cost £49.99) can be found by clicking here . It really does make sense to book early if you can. I look forward to seeing you on April 17th and wish you the best of luck for next week Tom |
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