16th May 2023 14:34
Accrol Group Holdings PLC - Blackburn, England-based private-label toilet roll maker - Expects revenue and adjusted earnings before interest, tax, depreciation and amortisation for the year ended on April 30 to be in line with current market expectations. For financial 2022, adjusted Ebitda was GBP9.1 million. Revenue is expected at GBP241.8 million for financial 2023, up 52% from GBP159.5 million the year before.
Looking ahead, says it is well-positioned to enter financial 2024 with margins expected to improve back towards pre-pandemic levels at a "faster rate than previously reported as the group benefits from the significant investments made over the last few years and the improving revenue mix". The firm adds that prices are expected to soften in the year ahead, while volumes are expected to grow ahead of the overall private label sector.
Chief Executive Officer Gareth Jenkins says: "Accrol is significantly well invested and fully automated. With our enviable customer base, broadening revenue streams, spare capacity and excellent levels of customer service, the group is very well placed to take further advantage of the changing dynamics in consumer spending, which is particularly evident in the tissue market."
Current stock price: 36.00 pence
12-month change: up 53%
By Xindi Wei, Alliance News reporter
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