Cropper (james) Share Discussion Threads

[davebowler] 28/6/2011 08:42

Capitalisation of Cropper is currently £17.5 but Asset value is £48m
''Our continuing operations made a profit before tax of £3,420,000''

[davebowler] 11/5/2011 14:39

Yes , very encouraging, here's today's full news release;
James Cropper PLC ("the Company")

Financial year ended 2(nd) April 2011.

The Company operates two funded pension schemes providing defined benefits for the majority of its full time employees. As from 1(st) April 2011 active members' benefits have been reduced such that future increases in pensionable salaries are restricted to RPI up to a maximum of 2% per annum. Therefore the schemes will remain defined benefit schemes but they will no longer be "final salary" schemes. Thus as a consequence of this change to future benefits and other factors, the IAS 19 valuations of these schemes as at 2(nd) April 2011 revealed a combined deficit of GBP1.4 million, compared with GBP14.2 million at the previous year end, a decrease of GBP12.8 million.

IAS 19 requires that any reduction in deficit arising from a curtailment of benefits should be shown on the face of the Statement of Comprehensive Income. This means that the Company's published Statement of Comprehensive Income will show a credit of GBP10.2 million arising from curtailment.

After allowing for deferred tax on the deficits, shareholders' funds will consequently be uplifted by GBP9.2 million as at 2(nd) April 2011.

Membership of these schemes has been closed to new members for ten years.

Further to the statement issued on 5(th) January 2011 the Company confirms that its subsidiary The Paper Mill Shop Limited ("TPMS") had closed all of its retail outlets by 2(nd) April 2011. It is anticipated that TPMS will incur a loss, including full provision for all closure and redundancy costs, of approximately GBP1.8 million in the financial year ended 2(nd) April 2011. Of this total GBP0.7 million relates to trading loses and GBP1.1 million to exceptional exit costs. Cash out flow in the year was GBP1.0 million.

During the year to 2(nd) April 2011 the Company's other businesses have performed in line with the comments made by the Chairman in the Interim Statement issued on 16(th) November 2010.

Mark Cropper, the Company's Chairman said "We have started the new financial year having dramatically reduced the threat to the Company posed by its pension schemes and retailing activities. This enables us to focus with renewed energy and confidence on profitably growing our three specialist manufacturing businesses".

The Company's full year results will be announced on 28(th) June 2011.

[envirovision] 11/5/2011 13:22

so closed paper mill, got pension in order.

[gengulphus] 16/12/2010 10:52

Did you check for trades on PLUS Markets (symbol CRPR.GB) as well as the LSE (symbol CRPR)?

If not, you'll need to go to the PLUS Markets website www.plusmarketsgroup.com to check the trades - ADVFN only carry the current day's trades for PLUS shares.

Gengulphus

[awilson] 14/12/2010 12:50

Bought a few at 163p yesterday (Mon) but not recorded.

[garth] 10/12/2010 09:25

On the rise again and currently rated at just 10x FIRST HALF earnings....

G.

[garth] 16/11/2010 12:05

Pulp and energy prices high - but 15p eps achieved for the first half. Nil gearing.

Converting doing well, and:

"I anticipate that TFP's sales to the aerospace, defence, security and consumer electronics sectors will continue to build strongly over the remainder of the financial year with profits well ahead of last year".

[davebowler] 16/11/2010 11:49

James Cropper turnover up at £43.5m
StockMarketWire.com
First half turnover at niche specialist paper and materials group James Cropper rose to £43.5m - up from £35.9m last year.

EBITDA - before new IAS19 pension adjustments - fell to £2.8m in the six months to 25 September from £3.7m in 2009.

The group recorded a profit before tax of £1,192,000 for the period (£1,422,000 prior to net IFRS pension adjustments).

This compares with a profit before tax of £1,655,000 for the same period last year (£2,033,000 prior to net IFRS pension adjustments).

The group said there was a strong performances from technical fibre products and James Cropper Converting in the first half and a small loss in James Cropper Speciality Papers.

The future of the group's two defined benefit pension schemes are currently under review and three under-performing retail outlets were closed in the first half.

[capercaillie] 29/10/2010 16:42

Good progress this week - highest since July 2008

[capercaillie] 21/7/2010 19:02

Net gain today taking XD into consideration. Need to keep momentum going with a positive trading statement at AGM next week.

[meadow50] 20/7/2010 11:36

XD tomorrow 5.3p so may drop by that amount.Payable 13 August.

[garth] 19/7/2010 12:14

Still moving up :0)

[garth] 22/6/2010 08:46

Great eps recovery! But gas costs £2m less than the year before? Those will increase with the economy... Profits were at £2.4m for the year - wouldn't hav eleft much profit if they'd remained high. Pulp prices increased rapidly but now believed to have levelled out and excpected to fall. Is next year's result really dependent on how these two factors balance?

G.

[davebowler] 22/6/2010 08:14

ames Cropper (B)(A) – James Tetley (0845 059 6691)

Final Results – BUY (Unchanged since 24/04/09) – 12m Price Target: 220p - Current Price: 127.5p – Market Cap: £10.9m

· Ahead of expectations - James Cropper's full year results are comfortably ahead of expectations, confirming a very strong recovery in earnings against a challenging economic backdrop. At £2.4m (vs a forecast of £2.0m), PBT was more than double the 2009 result (£0.9m) as sales proved remarkably resilient (+2% to £76.2m) and input costs retreated from their prior year peak.

· Net debt eliminated - The elimination of net debt from £4.4m to £0.0m was a particular highlight, providing the Board with the confidence to increase the full year dividend to 7.5p (6% yield).

· Cost pressures returning but recovery in TFP - The cost environment is expected to be challenging in the short term for Speciality Papers, but an improving order book suggests a recovery in TFP.

· Attractive valuation - We expect to retain our 220p price target and Buy recommendation.

[garth] 14/6/2010 12:28

Director sale announced today - several weeks late!

[davebowler] 14/4/2010 12:30

from foxnil
If you are interested in quizzing management, the company is exhibiting at this show in April: www.masterinvestor.co.uk. They have a few free tickets available for shareholders and other interested parties if you email the organisers at [e-mail] quoting 'James Cropper shareholder'.

[foxnil] 09/3/2010 09:03

If you are interested in quizzing management, the company is exhibiting at this show in April: www.masterinvestor.co.uk. They have a few free tickets available for shareholders and other interested parties if you email the organisers at [e-mail] quoting 'James Cropper shareholder'.

[davebowler] 16/11/2009 16:14

Its always a good sign that a thread like this is quiet when there's a jump- not too many excitable buyers.

[davebowler] 29/9/2009 09:30

James Cropper (B)(A) - James Tetley (0845 059 6691)
Positive Trading Update – BUY (Unchanged since 24/04/09) – Current 12m Price Target: 180p (from 140p) - Current Price: 125p - Market Cap: £10.6m
·
Brewin Dolphin;
This morning's trading update highlights a robust start to the year from James Cropper, ahead of our expectations. Strong trading from Speciality Papers has more than offset an expectedly subdued performance from Technical Fibre Products (TFP).
· The first half results (prior to IFRS pension adjustment and before tax) are likely to be materially ahead of the Board's expectations, an impressive achievement against a backdrop of recessionary pressures and rising pulp prices.
· The steady increase in the pulp price over recent months will weigh on H2 profitability to a degree but full year results are nevertheless expected to exceed market expectations.
· We expect to upgrade our PBT forecasts (post IFRS pension adjustment) by 25% and 22% in 2010 and 2011 respectively, and to increase our price target to 180p from 140p. We retain our Buy recommendation.

[davebowler] 24/9/2009 11:09

Chartists- is there anything to stop a run up to 150p?

[s_pinch] 21/7/2009 08:24

Have got out .... good luck to everyone!!!

[s_pinch] 26/6/2009 09:22

Obviously I am still under a little confidentiality but TFP have a good set of products that will generate good sales in niche market areas. Speciallity papers aparently is looking much more posative.

Overall as a manufacturing business in UK it is doing well to generate profits in this economic downturn.

As far as the price is concerned the stats say it all. Look at quick net asset value compared to share price. Look where the land is that the factory is built on.

OK, the shops are positioned very badly (who will drag a full box of paper round the Metro Centre or through the City of Liverpool)but this could be changed by following the principles of the origional shop, low rent industrial estate sites, stack it high sell it at a reasonable price and you can park outside for loading!!!!

I think that the CEO of the business will drive it through the bad times even if there needs to be some major restructuring of the middle management.

This is my opinion. DYOR etc.