Trading Statement

CROPPER (JAMES) PLC 3 August 1999 AGM Statement 'The Group has had a much better opening Quarter than last year with all three businesses trading profitably. 'Trading conditions for the Papermaking Division are challenging with the pound sterling continuing to remain strong against the Euro and pulp prices increasing at present in a similar manner to last year. We accept we have to live with these factors but we are taking action to minimise their adverse impact. 'The Converting Division is trading at a higher volume than expected for the time of year. 'Technical Fibre Products Limited has been trading profitably in the last six months and volume is expected to increase further in the Autumn as development opportunities are commercialised. 'Capital expenditure in the current year will be moderate. Cash flow is positive and borrowings continue to decrease. This provides us with a strong balance sheet and confidence in the future.' James Cropper Chairman Enquiries James Cropper James Cropper PLC Tel: 01539 722 002
UK 100

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