James Cropper: dividend lifted
The AIM quoted specialist paper and materials group announced encouraging results for the half year ending 26th September 2009.
Reported turnover for the 6 months was £35.9m, a decrease of 5% to the comparable period, but group profit before tax for the year was £1.65m compared with a loss before tax of £261,000 for the same period last year. Even more encouragingly, the Board decided to increase the interim dividend from 1.1 pence to 2.2 pence, returning it to its 2007 level. Speciality Papers traded strongly in the first six months of the financial year continuing the recovery that began in the second half of the previous financial year. Technical Fibre Products (“TFP”) had a a tougher time with…