20th Jan 2020 09:26
(Alliance News) - Tissue maker Accrol Group Holdings PLC on Monday said the UK financial regulator has ended an investigation into the company.
A year ago, the Financial Conduct Authority began looking into "certain statements" made by Accrol, between April and November 2017.
This was then widened into looking at financial statements going back to Accrol's listing in London during 2016. Accrol added its financial report for its year ended April 2018 had already "identified misstatements" for financial 2017, ended April 2017.
Accrol confirmed on Monday the FCA will be taking no action against the Blackburn-based company.
Shares were 1.8% higher on Monday at a price of 39.45 pence each. In 2017, they reached 150p.
Earlier in January, Accrol reported a narrowed pretax loss for the six months to October 2018, which it attributed to the completion of a turnaround plan.
By George Collard; [email protected]
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