27th Jun 2023 11:17
Accsys Technologies PLC - London-based wood building products manufacturer - Posts revenue of EUR162.0 million for the financial year that ended on March 31, up 34% from EUR120.9 million the year before. Underlying earnings before interest, tax, depreciation and amortisation double to EUR22.9 million from EUR10.4 million the year before. Says the rise in both revenue and underlying Ebita is driven by increased sales prices and strong ongoing demand for Accsys products. However, swings to a pretax loss of EUR67.1 million from a profit of EUR1.7 million, as operating costs rise to EUR127.3 million from EUR31.7 million the year before. Explains that an impairment loss of EUR86.0 million is recognised in the recent year. The impairment relates to the company's purchase of full ownership of its Tricoya Hull plant from partners. Read More