º£½ÇÊÓƵ

An advanced materials and paper products group, which has worked with the likes of Selfridges, Burberry and Lush, has "every chance" of "emerging stronger" from the Covid-19 pandemic after its full-year accounts were published.

Cumbria-headquartered James Cropper plc, in a statement issued to the London Stock Exchange, said its latest financial year "passed as well as we might have hoped".

During the 12 months to March 27, 2021, the group's revenue dipped from £104.7m to £78.8m while its pre-tax profits fell from £5.5m to £1.7m.

The group received £2.9m of government support in the º£½ÇÊÓƵ and USA in the period.

It also completed the acquisition of PV3 Technologies in January to accelerate its penetration of the hydrogen market.

Chairman Mark Cropper said: "I am pleased to report that in the event the year has passed as well as we might have hoped. We have managed to keep operating throughout and most importantly our workforce has stayed safe.

"That we find ourselves in this position speaks volumes for the unprecedented commitment of everyone across the group.

"Our mantra since the earliest days of the Covid crisis has been to 'emerge stronger'. This time last year it was far from a foregone conclusion that we would.

"I can now say with some confidence that we have every chance to do so, even while the pandemic and its aftershocks are far from over."