James Cropper plc’s (LON:CRPR) shares have advanced today after the specialist paper manufacturer raised its full year guidance.
Shares rose 3.77% to 1,375p in morning trading.
The company said it expects results for the year ending 1 April 2017 will be “moderately ahead" of its prior expectations on the back of "healthy" sales growth across its paper and technical fibre products businesses.
The exports business has also received a boost from favourable foreign exchange movements. James Cropper sees modest gains in the 3D packaging (3DP) arm, realised from the capitalisation of development costs. 3DP was launched at the London Packaging Innovations show in September 2016.
In the first half the group reported an increase in pre-tax profit to £2.4mln from £1.6mln and a rise in revenue to £45.4mln from £42.1mln. Revenue was driven its technical fibre products division, which increased sales by 21%.