I thought the results were pretty good overall. These are not obviously cheap but hopefully they have great growth prospects going forward so i'm happy to continue holding. |
Lovely to read and promising growth plans. |
 Nice start. Results well received. I am expecting that will see us move beyond the most recent high.
Mark Cropper, Chairman, commented:
"The Group has experienced a 47% increase in revenues in the first half, returning to pre-pandemic levels, with both TFP and Colourform performing above this level, and Paper demonstrating a strong recovery. Plans are in place to establish an additional electrolyser line in the US as the hydrogen market surges and the 50% increase in TFP's non-woven lines is now operational. Paper sales are projected to be ahead of pre-pandemic levels by the start of 2022, with a strong demand for recycled fibre content and responsible sourcing. The Colourform ä business attracts brands seeking plastic-free sustainable packaging across the wines, spirits, beauty, and fragrance sectors."
.....
"Technical Fibre Products ("TFP")
Revenues in the TFP division were up by 19% across all market segments. Strong growth continues in the renewable energy sector, and demand in the aerospace sector is returning as aircraft build rates increase. Proton Exchange Membrane (PEM) water electrolyser sectors are growing, and TFP is investing in additional USA capacity to meet forthcoming demand.
James Cropper Paper ("Paper")
The Paper division, which Covid-19 adversely impacted, is seeing revenues up by 64% compared to last year's comparable period. Whilst the division does face a challenging inflationary environment, significant contracts gained in luxury packaging and price increases are strengthening the mix. Investment is underway to deliver additional capability to meet these contract wins and the increased demand coming on stream for materials with sustainable and recycled fibres delivered via circular economy projects.
Colourform(TM) ("Colourform")
Revenues in the Colourform division grew by 22% in the period, with contracts being fulfilled for the wines, spirits, and beauty and fragrance sectors. Significant international recognition was gained across the packaging industry with multiple sustainability awards won. As a result, Colourform's pipeline continues to grow with unique, pioneering projects for sustainable coloured packaging solutions.
............
Outlook
The Group has experienced a 47% increase in revenues in the first half, returning to pre-pandemic levels, with both TFP and Colourform performing above this level and Paper demonstrating a strong recovery.
Adjusted PBT for the Group increased by 70%, with strong growth across all businesses. It is expected that the Group will continue to grow in the second half.
Plans are in place to establish an additional electrolyser line in the US as the hydrogen market expands and the 50% increase in TFP's non-woven lines is now operational. Paper sales are projected to be ahead of pre-pandemic levels by the start of 2022, with a strong demand for recycled fibre content and responsible sourcing. The Colourform ä business is attracting brands seeking plastic-free sustainable packaging across the wines, spirits, beauty, and fragrance sectors.
G. |
Can't decide what is in dominance, the rising trend channel from 700p or the falling one from 1950p.
Hydrogen future vs current gas prices. Hope vs Fear. Long term vs short term.
Ho-hum.
G. |
The day started at 06:30am with BBC reporting live from Cropper about the threat to energy intensive industries like paper - the doom-monger from the local Chamber of Commerce was saying that jobs (in general) were at stake. Not sure if anyone from the company spoke later? It was mentioned by the reporter that Cropper (in a normal year) spends about £3m on energy.
Then now at lunchtime I read the following: ..."Stora Enso STERV.HE and
UPM-Kymmene Corporation both dropped after EU antitrust regulators said they raided wood pulp makers in several countries as part of a cartel investigation. UPM just confirmed EU competition authorities were conducting an unannounced inspection at its premises while there were no immediate announcement from Stora Enso."
Perhaps the pulp market has been rigged to the detriment of Cropper and others?
Interesting times. |
It's taken a while, but that is us up and away to three year highs... |
CRPR slowly, quietly on the rise and looking like this time it might just break out up
:0)
G. |
Martin Thompson is 61 years old, I don't think there is anything concerning, he's most likely leaving due to retirement. He is on a 12 month notice period and thanked by the board.
In fact this could be a great opportunity to bring in someone with technical experience and fresh ideas to head up the Technical Fibre Products division, one of the more demanding roles in the company. TFP is on the technological forefront of developments in aerospace, fuel cells and wind energy. The push into fuel cells is especially exciting and the purchase of (PV3) Hydrogen Products Ltd earlier this year reinforces that. |
He doesnt leave until April 2022, hardly the sign of a problematic exit. Mellow. |
It worries me that the MD of TFP just resigned (see separate RNS) - any speculations or thoughts? |
Any comments on the results?
Not too bad all things considered. TFP is a great business which performed robustly despite the problems in the aerospace market. Colourform is growing but needs to grow more quickly if it is to become profitable any time soon and paper should really be sold to fund the growth areas imo. |
Its interestingly placed. Which trend is in play - the one down from £19.50 or the one up from £9?
G. |
£12 to buy and possible someone letting stock out in £6K bundles of 500 shares. |
Bought a small few today for the first time in 15 years. Last time I bought any they were £2 a share so a brilliant return today |
Hello hybrasil
I've been around but don't post much. I set up a value share thread under the ticker VALUE which you might like to visit. It hasn't yet been ruined by some of the morons you get on here.
I agree about TFP. It's a great business and I bought shares here when I was looking for investments to target the shift to green technologies. I hope to hold for some time. |
Arthur
I haven't seen you for ages.
I think the whole hydrogen thing could take off and it might be brilliant for Cropper
I kept a list of your investments from some years ago. |
I bought a few of these as a punt on TFP continuing it's growth once the Pandemic is under control properly. |
This has been a very challenging period, but James Cropper remains as frustrating as ever to Investor's Champion, with its legacy paper operations set to continue to be a drag on returns and the greater appeal of its high performing and exciting TFP business. |
Circa $17m off revenue, profit still in at £2.5m. Not bad for a bad bad year?
I feared worse. And am relieved by that statement.
G. |
Hi Garth right click on the link, select copy link address.
Go into header put cursor where you want link, right click, select paste.
No code is required.
As Mr Collins might say. |
Bamboo,
When I put the code (a href=) in the header for the pulp link and save, it doesn't appear in the header. When I then go back to edit again the code is no longer there.
Any further pointers?
G. |
Brill, looks good. Thanks.
Could you also add a link to the wood pulp prices?
As you know these almost halved from the peak, and should have a benefit to the input costs of the traditional business.
=======================================
For info, the gap [18/1/2021] on the mid price chart, doesn't show on the last market price based chart.
The current chart pattern is an inverse head and shoulders. A bull flag has also formed. The target for the flag is currently approx 1740. |
Thanks. Had failed to leave a space between = and " |
garth, click on the chart and select 'copy image address'
Then type [less than sign] "img src= [right click cursor and paste image address] " [greater than sign]
Try it a few times, you can always edit, but make sure you save the contents of the header somewhere first! On the threads I have set up I copy and save the header contents to an old post. |
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