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10 Jun 2019 | 09:55

Accrol performs 'well' in Q4; expects to report improved earnings

Accrol said it had performed 'well' in its fiscal fourth quarter and expected to report improved annual earnings as the company completed its restructuring programme. For the full year ended 30 April 2019, the adjusted loss before tax was expected to be in the range of £2.5m to £3.0m and total revenues were expected to be flat at £119m on a like for like basis against the prior year. Adjusted earnings (EBITDA) was expected at about £1m, representing an about £7m improvement on the prior year despite the substantial impact of FX and material cost headwinds which increased by an estimated £10m, the company said. Sales in the group's core toilet roll product, however, increased by 12% year on year to about £85m from £76m last year. 'Following the conclusion of the restructuring, the Group performed well in Q4 and in line with the management's strategic turnaround objectives, achieving and maintaining acceptable levels of monthly profitability on an Adjusted EBITDA level,' the company said.

At 9:55am: (LON:ACRL) Accrol Group Hldgs Plc share price was 0p at 26p

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