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Accrol sees in line adjusted earnings despite lower sales as consumer stockpiling eases
StockMarketWire.com
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Tissue convertor business Accrol said annual adjusted earnings were expected to be in line with expectations, despite a lower than anticipated increase in sales in the year as consumers eased stockpiling.
'Substantial progress has been made on gross margins in the Period, which are ahead of market expectations, 'the company said.
Total revenues in FY21 increased by 1.5% to £136.8 million year-on-year, with volumes on a like for like basis down 3.9%, against a total market decline of 5.5%.
'Sales across the whole industry have been depressed in recent months, while consumer stockpiling unwound,' it added.
Accrol's market share continued to rise in FY21 and is now 16%, compared to 13% in FY20, the company said.
The company is set to announced its final results for the year ended 30 April 2021, in July 2021.
At 9:14am: (LON:ACRL) Accrol Group Hldgs Plc share price was 0p at 48.5p
Story provided by StockMarketWire.com
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