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26 Sep 2018 | 09:35

Accrol Group swings to loss as weaker pound, rising costs bite

Accrol Group swung to a first-half loss Wednesday as increased cost, an inability to agree timely price increases with customers and adverse foreign exchange rate movements weighed.

Despite the current headwinds, the company said was on-track to achieve market expectations for 2019.

For the year ended 30 April 2018, pre-tax losses were £24.1m, compared with a profit of £8.6m a year earlier, while revenue rose 3% to £139.7m.

The company said it would focus efforts over the next six months on exiting all external warehousing and implementing new supply chain agreements; completing the product simplification process and further improvements in operational output per head. At 9:35am: (LON:ACRL) Accrol Group Hldgs Plc share price was -0.25p at 19.25p

Story provided by StockMarketWire.com
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