Accrol announces profits boost

Blackburn-based tissue manufacturer Accrol has registered a double-digit increase in revenue, up 14.2 per cent to £135m. This has seen pre-tax profit increase by 9.3 per cent to ££37.7m.

The figures fall in line with Accrol's previous announcement that its first year as an AIM-listed business had exceeded expectations.

The year also saw Accrol open a new 168,000 sq ft manufacturing facility at Leyland, with two tissue converting lines commissioned and a third line expected next year.

Steve Crossley, chief executive officer of Accrol, said: “This has been a year of positive change for Accrol as we have transitioned to life as an AIM listed company. We have won new contracts and increased our share of the Discount Sector to over 50 per cent.

“We continue to build a platform for future growth, having made a significant investment in our new manufacturing facility at Leyland to create extra capacity. A new finished goods warehouse in Skelmersdale, announced in May 2017, will provide central storage and distribution facilities for our customers, improving our supply chain efficiency and enabling us to build on our market position. “Increasing input costs, driven by exchange rates, are impacting most product categories in UK retail and like all UK manufacturers, we continue to seek inflation recovery. There are positive signs, with some retailers increasing consumer price points, although it is slower than we expected. We believe that as price increases come through fully in the market, this will continue to drive shoppers to seek good value in the Discount and Multiple own-label sectors.’’