Having planned to offset the c.£2m annual impact of increased pulp prices, as announced at the half year, Cropper now expects the impact to be c.£3.5m. A further increase in pulp prices together with an expectation that they will not drop as rapidly as previously anticipated, has led to reduced James Cropper Paper profit forecasts offset to a degree by reduced group costs. We reduce our FY2018E adj. PBT by £1.5m to £5.7m. We make no changes to our TFP or 3DP forecasts.
24 Jan 2018
Further pulp price rise hits profit forecasts
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Further pulp price rise hits profit forecasts
James Cropper plc (CRPR:LON) | 260 0 0.0% | Mkt Cap: 24.8m
- Published:
24 Jan 2018 -
Author:
Robert Sanders -
Pages:
2
Having planned to offset the c.£2m annual impact of increased pulp prices, as announced at the half year, Cropper now expects the impact to be c.£3.5m. A further increase in pulp prices together with an expectation that they will not drop as rapidly as previously anticipated, has led to reduced James Cropper Paper profit forecasts offset to a degree by reduced group costs. We reduce our FY2018E adj. PBT by £1.5m to £5.7m. We make no changes to our TFP or 3DP forecasts.