15.6 C
Thursday, July 18, 2024

Accrol Group Holdings plc posts positive Preliminary results

Accrol Group Holdings plc, the AIM listed leading independent tissue converter, headquartered in Blackburn, has today announced that its revenue increased by 14.2% to £135.1m and gross profit increased by 9.3% to £37.7m.

Its key operational highlights included a successful maiden full year as a publicly listed company, with a solid trading performance and good progress has been made on building a platform for future growth, supported by new hires to operations and management functions.

Reflecting on the year, Steve Crossley, Chief Executive Officer of Accrol, commented:“This has been a year of positive change for Accrol as we have transitioned to life as an AIM listed company. We have won new contracts and increased our share of the Discount Sector to over 50%.

“We continue to build a platform for future growth, having made a significant investment in our new manufacturing facility at Leyland to create extra capacity. A new finished goods warehouse in Skelmersdale, announced in May 2017, will provide central storage and distribution facilities for our customers, improving our supply chain efficiency and enabling us to build on our market position. 

“Increasing input costs, driven by exchange rates, are impacting most product categories in UK retail and like all UK manufacturers, we continue to seek inflation recovery. There are positive signs, with some retailers increasing consumer price points, although it is slower than we expected. We believe that as price increases come through fully in the market, this will continue to drive shoppers to seek good value in the Discount and Multiple own-label sectors.’’



How to Style Your Display Cabinets

When it comes to enhancing the aesthetics and functionality...

The Ultimate Guide to Washing Machine Repair

Tired of dealing with a washing machine that won’t...

Gareth Southgate steps down as England manager

England boss Gareth Southgate has announced it's "time for...

Securing Web3 Development: Guide to ISO 27001

Web3 development is revolutionizing the internet by leading it...

Subscribe to our newsletter

Business Lancashire will use the information you provide on this form to be in touch with you and to provide updates and marketing.

Don't miss

Wimbledon 2024 final: Alcaraz through after win vs Medvedev

Holder Carlos Alcaraz held off world number five Daniil...

Best UK Football Betting Sites For 2024

Football is the UK's biggest and most popular sport....

Choirs have just two weeks left to enter prestigious singing competition

There are just two weeks left for choirs to...

Legal expert reveals steps to take after personal data breaches

A legal expert has outlined what to do if...

More News

Free travel for military personnel on Armed Forces Day

Free travel will be available on Stagecoach bus and tram services for military and ex-military personnel on Armed Forces Day. This Saturday is a chance...

Lancaster shop worker fined for selling vape to underage girl

A man working in a Lancaster vape shop has been fined £916 for selling a disposable flavoured vape to a teenager without asking for...

One in three businesses in Lancashire fail test knife purchases

Trading Standards revealed that one in three Lancashire businesses failed their test purchases for knife sales. Operation Sceptre, an operation focusing on knife crime, involved...