James Cropper raises full-year EBITDA outlook after H1 trading beats market expectations
James Cropper says first-half trading is ahead of the board's expectations for the six months ended 26 September 2026, helped by stronger than expected performance in its Paper & Packaging business. The AIM-listed group now expects full-year adjusted EBITDA for the year ending 27 March 2027 to come in about 10% to 20% above current market expectations of £9.4 million.
Highlights
- James Cropper upgrades full-year adjusted EBITDA guidance to £10.3 million–£11.3 million, up 10%–20% from current market expectations of £9.4 million.
- Strong H1 FY27 performance driven by revenue growth and cost management in the Paper & Packaging division exceeds market forecasts.
- Further trading details and outlook updates will be provided with interim results publication in November 2026.
First-half trading and upgraded outlook
As reported by London Stock Exchange, citing the Regulatory News Service, the advanced materials and paper and packaging group says revenue growth and cost management in Paper & Packaging drive a strong H1 FY27 performance.Based on the first-half result and the board's current view of trading for the rest of the financial year, the company now expects full-year adjusted EBITDA of about £10.3 million to £11.3 million. That compares with current market expectations of £9.4 million and implies an upgrade of roughly 10% to 20%.
James Cropper says it will provide further detail on trading and its outlook when it publishes interim results in November 2026.
Paper and packaging momentum supports annual expectations
Chief executive David Stirling says the group is pleased with its strong first-half performance, with Paper & Packaging making a particularly important contribution.He says the result reflects actions taken to improve operational performance alongside continued positive momentum across the group. The upgraded guidance points to improved earnings momentum for the UK-listed manufacturer as it moves through the second half of FY27.
In our earlier coverage of Equites Property Fund’s interim results, we reported that the group lifted its interim distribution after accelerating its exit from the UK and redirecting capital to South Africa. We noted that proceeds from the £200.5 million Aviva portfolio sale helped cut leverage and supported management’s decision to maintain FY27 guidance while funding further domestic logistics growth.