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Accsys reports 'strong' H2 growth; aims to boost inventory levels following disruptions
StockMarketWire.com
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Chemical company Accsys said it would focus on rebuilding inventory levels and reported strong sales and revenue growth in the second half following the initial impact of Covid-19 in the first quarter.
For the year ended 31 March, revenue was in excess of approximately €98 million, with Accoya revenue up 10% to €91 million thanks to H2 up approximately 23% year-on-year.
Sales volumes was up approximately 4%, with production continuing at capacity levels throughout H2, driven by ongoing strong demand from new and existing customers, the company said.
Looking ahead, the company said that it would focus on rebuilding its inventory stock levels, which were lower than usual due to reductions during COVID-19 disruption in the first half of fiscal 2021 and some consequent supply chain disruptions.
Accsys intends to publish its preliminary results for the full financial year in late June 2021, covering the financial year ended 31 March 2021.
At 8:26am: (LON:AXS) Accsys Technologies PLC share price was 0p at 92.4p
Story provided by StockMarketWire.com
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