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Pin to quick picksAccrol Gp Share News (ACRL)

Share Price Information for Accrol Gp (ACRL)

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Share Price: 38.60
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Accrol returns to profitability, CFO steps down

Tue, 22nd Jan 2019 09:12

(Sharecast News) - A day after announcing that it was being investigated by the Financial Conduct Authority, toilet paper maker Accrol Group Holdings said it has returned to profitability.In an update for the six months to the end of October 2018, the company said its "highly complex" turnaround has been substantially completed and it has now returned to profitability on a monthly basis.As a result, it expects to deliver a profit for the full year to 30 April 2019 of around £1m at an adjusted EBITDA level.Accrol said margins since the period end have strengthened as price increases achieved across the business have begun to make full impact in the day-to-day trading. Meanwhile, production efficiencies have improved by more than 70% and the company has exited from lower-margin Away From Home operations to focus on its core business.Net debt during the period was reduced by £6.7m to £22.6m and top 10 customer revenue grew 11% to £52.5m.Chief executive officer Gareth Jenkins said: "This is one of the most challenging business turnarounds in which the leadership team and I have ever been involved. Whilst most of the issues we have faced are familiar to the team, it is highly unusual to face so many issues in a single business, at the same time and at such a pace. I am pleased to say that the major actions are now behind us and we are beginning to see results. "We will never become complacent; ongoing success in the tissue conversion sector requires nothing less than operational excellence. As a board, we are convinced that we have created a more robust business with strong foundations on which to build and, whilst I am sure there will be challenges ahead, the group is on a significantly improved path."The company also announced in a separate statement that Steve Townsley has stepped down as chief financial officer with immediate effect for health reasons. Hannah Argo, who joined Accrol earlier this month, has been appointed as interim CFO.The group said she has "extensive" experience in senior financial roles, having worked at Alliance Boots, Robert McBride and Tulip UK.On Monday, Accrol announced that it was being investigated by the FCA over certain statements it made to the market between 1 April 2017 and 20 November 2017. The group said it was cooperating fully.
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28 Aug 2018 11:23

Accrol Hires New Non-Exec Director And Chief Operating Officer

LONDON (Alliance News) - Soft tissue manufacturer Accrol Group Holdings PLC said Tuesday Euan Hamilton will replace Stephen Hammett as a non-executive director and Mark Dewhurst will take over as

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11 Jun 2018 09:44

Accrol Appoints James Townsley New Chief Financial Officer

LONDON (Alliance News) - Toilet tissue maker Accrol Group Holdings PLC said Monday it appointed James Townsley its new chief financial officer with immediate effect.Townsley will replace -

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22 May 2018 12:13

Accrol To Raise GBP2 Million Through Conditional Open Offer (ALLISS)

LONDON (Alliance News) - Accrol Group Holdings PLC said Tuesday it will raise additional funds through a conditional open offer following last Tuesday's placing.The toilet paper is to a

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15 May 2018 17:43

DIRECTOR DEALINGS SUMMARY: Accrol Directors To Participate In Placing

LONDON (Alliance News) - The following is a summary of director dealings reported in London on Tuesday.----------Accrol Group Holdings said it intends to raise a of

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15 May 2018 16:05

Accrol Intends To Raise Up To GBP10 Million Via Share Issue (ALLISS)

LONDON (Alliance News) - Accrol Group Holdings PLC said on Tuesday it intends to raise GBP8.0 million through a placing of 53.3 million shares at a price of 15.0 pence per share.Shares in a

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3 May 2018 16:44

Asset Manager Schroders Raises Accrol Holding By 2.5% (ALLISS)

LONDON (Alliance News) - Soft tissue products firm Accrol Group Holdings PLC said on Thursday that Schroders PLC raised its stake in the company by 2.5%.Before the transaction the asset of

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1 May 2018 10:27

Accrol Group Gets Banking Covenant Breathing Space From Lenders

LONDON (Alliance News) - Accrol Group Holdings PLC on Tuesday said its lenders have waived earnings covenant tests, while also delaying the reduction in its revolving credit facility stock was up

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29 Mar 2018 11:05

Jeesr Industries Holds 4.5% Accrol Stake After Share Fall Collapse (ALLISS)

LONDON (Alliance News) - Accrol PLC said Thursday that Moroccan-based pulp tissue maker Jeesr Industries held a 4.5% stake in the toilet tissue maker after a transaction last

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4 Jan 2017 11:02

Toilet paper company Accrol on a roll thanks to Brexit hedging

(ShareCast News) - Investors in Accrol Group were feeling flush after the toilet and kitchen paper manufacturer declared a maiden interim dividend thanks to its hedging against Brexit currency effects and a contract with Lidl that adds to its growing roll call of larger retailers. As it continues it

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4 Jan 2017 08:23

Accrol Profit Falls On IPO Costs But Discounter Sales Boost Revenue

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7 Nov 2016 12:27

Accrol on track for full year

(ShareCast News) - AIM-listed loo roll manufacturer Accrol Group said on Monday that it remains confident in its outlook for the full year. The group said it has made good progress since the start of this financial year, with trading in line with its expectations. In the six months to the end of Oc

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22 Jul 2016 15:54

Accrol reports jump in annual earnings shortly after AIM IPO

(ShareCast News) - Accrol Group, a maker of toilet rolls and tissue paper, on Friday reported its first set of annual results since floating on the London Stock Exchange's AIM market on 10 June. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 22% to £15m in the

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15 Jul 2016 15:03

UK Earnings, Trading Statements Calendar - Next 7 Days

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8 Jul 2016 06:36

Accrol Wins Retailer Supply Contract, Trading In Line With Market View

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10 Jun 2016 09:50

Accrol Shares Rise As It Begins Trading; Draper Espirit Prices IPO (ALLIPO)

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