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Contract Wins and Joint Ventures

Accrol wins deal with major global retailer

08 July 2016 09:08

Accrol Group Holdings has agreed a new contract with a major global retailer to supply toilet paper, kitchen rolls and facial tissues with revenues expected to be more than £10 million per annum at manufacturer's selling price.

Accrol says the new contract further consolidates its position as a leading player within the marketplace and will commence in autumn 2016 using existing manufacturing capacity.

In the event that there is a period of reduced consumer expenditure following the UK's decision to leave the European Union, it is possible that the move towards non-discretionary economy and private label products will accelerate.

If this happens, Accrol believes it is well positioned to benefit as over 50% of sales are generated from the discount market segment and the Company is primarily focused on supplying private label products to both discount and multiple retailers.

The company remains significantly hedged against adverse currency movements for the financial year ending 30 April 2017. Moreover, whilst only two months of this financial year have passed, the directors are comfortable with market forecasts and continue to see opportunities in the market.

Accrol will announce its results for the year ended 30 April on 22 July.

Accrol's newly appointed chief executive, Steve Crossley, said: "We are delighted that another major global retailer has chosen Accrol as a supplier for its tissue products. This is a great start to Accrol's life as a publicly listed company and represents a major business win that will contribute significantly to our future growth".

At 9:08am: (LON:ACRL) Accrol Group Hldgs Plc share price was +1.5p at 105p

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