LONDON (Alliance News) - Toilet and tissue paper maker Accrol Group Holdings PLC on Friday said it has secured a new supply contract with an unnamed retailer and said it is comfortable with expectations for trading in the current financial year.
Accrol, which floated in London in early June, said it has agreed a new contract with an unnamed "major global retailer" to supply toilet paper, kitchen rolls and facial tissues, with revenue from the deal anticipated to exceed GBP10.0 million a year.
Accrol said the deal will commence this autumn utilising existing manufacturing capacity.
The company added that in the event uncertainty around the UK's decision to leave the European Union sparks a fall in consumer spending, it is possible that consumers will move towards buying discount items, from which the company generates around 50% of its revenue.
Elsewhere, Accrol said it is hedged against significant currency movements and said trading for the year to the end of April 2017 has been in line with market expectations thus far.
The company will publish results for the financial year to the end of April on July 22.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Accrol Gp (ACRL)