James Cropper said it has noted the recent share price movement and confirmed that the Group continues to experience increased pulp prices, as announced at the AGM in July, which is continuing to impact performance within its paper business.
"Nevertheless, the other businesses within the Group are trading well with increased penetration into new markets," the Company explained.
"Technical Fibre Products continues to make progress across its markets including fuel cells. James Cropper 3D Products has launched ColourformTM, a sustainable alternative to plastic packaging, and agreed new commercial contracts with clients including Lush. Also, the Paper division has trademarked CupCyclingTM, the practice of transforming coffee cups into high grade papers as publicised recently with Selfridges.
"Overall, therefore, the Board expects the Group to achieve management expectations for the current financial year and remains confident of the Group's prospects over the medium and longer term.
"A further update on trading will be provided at the time of the release of the Group's interim results, which are expected to be announced on 14th November 2017."
At 2:04pm: (LON:CRPR) Cropper James PLC share price was +80p at 1547.5p