Jun 26, 2012. /Lesprom Network/. Specialist paper and advanced materials group James Cropper PLC reported a sharp decline in fiscal 2012 profit hurt mainly by lower revenues. The company also maintained its dividend, as RTTNews reported. For the full year, pre-tax profit was GBP 971 thousand, lower than last year's GBP 12.8 million. The latest results included GBP 0.8 million full redundancy provision related to the planned UK restructuring. Net pension adjustment before tax was GBP 128 thousand, compared to last year's GBP 9.39 million. Profit before tax before IAS19 pension adjustment dropped to GBP 1.6 million from GBP 1.7 million last year. Earnings per share plunged to 9.5 pence from 97.6 pence in the prior year. Turnover - continuing operations declined to GBP 78.22 million from GBP 83.26 million a year earlier. The company further said its restructuring of UK workforce, announced in March, would take place in next year. Further, the Board has decided to maintain the final dividend at 5.7 pence per share making a total dividend for the full year of 7.9 pence, same as last year. Chairman Mark Cropper said, "Although the troubles in the Euro-zone economy are a particular challenge, I am confident that our competitiveness will improve over the coming year as a consequence of our specialist capabilities, products and excellent service levels coupled with our recent investments and the restructuring process."