Shares of Blackburn-based toilet roll and tissue maker Accrol Group rose as much as 4% after it published a trading update ahead of its final results for the year ended April 30, 202, saying its results are “expected to be at least in line with current market expectations.”
Accrol said revenues are ahead of market expectations at £241.8 million — a rise of 52%.
“Since the interim results on 24 January 2023, the group has continued to perform strongly, gaining further market share through its great value product range, broad retailer base, and new routes to market,” said Accrol.
“The group has successfully navigated and mitigated the well-reported and substantial inflationary pressures on a broad range of input costs through further process efficiencies and by engaging constructively with its customers to pass-on these additional costs.”
In its outlook, Accrol said: “The group is well positioned as it enters FY24 with margins expected to improve back towards pre-pandemic levels at a faster rate than previously reported as the group benefits from the significant investments made over the last few years and the improving revenue mix …
“Prices are expected to soften in the year ahead, while volumes are expected to grow ahead of the overall private label sector …”