Accrol CFO resigns amid losses

Now the company has reported that while revenue increased by double figures to £72m, the company registered an operating loss for the six months to October 31.

Gareth Jenkins, chief executive officer, said in a statement: "It is with disappointment that, in my first communication to shareholders, I have to address the fact that the performance of and short-term outlook for the Group have been so contrary to prior expectations.

James Flude has vacated his CFO post, but will remain as an executive director until February 9 when he leaves the company. Martin Leitch will assume the role of interim chief financial officer until a permanent replacement is found.

Gareth Jenkins added: "On behalf of the board, I would like to thank James for the contribution that he has made to Accrol, in particular for his contribution under Private Equity ownership and, more recently, for the key role he played in the successful IPO."