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Accrol Group Holdings PLC - Blackburn, England-based private-label toilet roll maker - Anticipates revenue, adjusted earnings before interest, tax, depreciation and amortisation and adjusted pretax profit in line with market expectations for the year ended April 30. Says it has demonstrated resilience against a challenging backdrop of rising cost inflation.
Adds that market conditions have continued to improve throughout the year, with shopping behaviours becoming more normalised amid easing and subsequent removal of Covid restrictions. Reports revenue of £159.4 million, up 17% from £136.6 million the previous year.
Chief Executive Gareth Jenkins says: ‘This has been the most challenging period in the industry that I have experienced, with tissue pricing reaching unprecedented levels, driven by energy prices and supply constraints. We have successfully recovered these increased input costs to date and are confident we can continue to recover any further rises through innovation, efficiency and our supportive retailer customer base.’
Revenue for the year ending April 30, 2023 is expected between £200 million to £220 million, it adds.
Current stock price: 25.90 pence, up 9.8% in London on Tuesday
12-month change: down 58%
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