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Accrol finishes full-year 2019 in “much stronger position”

The UK’s Accrol Group Holdings has said the group “performed well” in the Q4 2018, following a “transformational” restructuring programme.

Total revenues for the full year ended 30 April 2019 were c.£119m, largely unchanged on a like-for-like basis against the prior year, as the group exited a number of low margin contracts.

The company said it is achieving and maintaining “acceptable levels” of monthly profitability on an adjusted EBITDA level.

Sales in its core toilet roll product increased by c.12% year-on-year to c. £85m from £76m in full year 2018

Adjusted EBITDA was c.£1m, an c.£7m improvement on the prior year.

Adjusted loss before tax is expected to be in the range of £2.5m to £3.0m. Chairman Dan Wright said: “We finished the full year 2019 in a much stronger position, following the conclusion of a transformational restructuring, and that the new financial year has started well. “The group is now enjoying the full benefits of the structural cost savings achieved in the full year 2019, achieving an acceptable level of margin for a business of its type.

“Our management team is confident of delivering further profitable revenue growth and creating new exciting opportunities for the group.”

Accrol Group Holdings is a leading tissue converter and supplier of toilet rolls, kitchen rolls and facial tissues, as well as other tissue products, to major discounters and grocery retailers throughout the UK.