Year-end update lifts James Cropper

The price of shares in AIM-listed James Cropper (LON:CRPR) rose 3.83% to 950p (as of 10:38p) after the company reported that adjusted pre-tax profits for the year ended 28th March would be well ahead of market expectations. While the company had been on track to continue making progress during the current financial year, the COVID-19 outbreak has had a negative impact on demand across the business, with the paper division likely to be worst hit.

Given the high levels of current uncertainty, the company warned that the situation may change rapidly but they expect to book a loss for the current quarter.