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Accrol Group Holdings PLC - Blackburn, England-based private-label toilet roll maker - Pretax loss in financial year that ended April 30 narrows to £2.5 million from £3.1 million, though remains wider than the £1.9 million loss in financial 2020. More positively, revenue rises 17% to £159.5 million from £136.6 million the year before, with Accrol noting this was in line with expectations. Revenue in financial 2020 was £134.8 million. Market share by volume increases to 19.5% from 18.9% at the half-year stage, amid a flat overall UK market.
Says the new year has started well, with volume, revenue and margins in line with market expectations. These are for revenue to rise by 31% in financial 2023 and earnings before interest, tax, depreciation and amortisation by 68%. Adjusted Ebitda was £9.1 million in the recent year, down from £15.6 million in financial 2021. Accrol says it has entered the new year with ‘pricing fully aligned with higher input costs’.
‘Whilst remaining mindful of the extremely challenging macro environment, the board views the prospects for Accrol with confidence, given the strong and rapid recovery of input cost rises in the second half of this year after the delay in the first half,’ says Executive Chair Dan Wright.
Current stock price: 24.75 pence
12-month change: down 56%
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