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Loo paper supplier Accrol swung to an adjusted annual profit after panic buying during the pandemic helped boost sales.
Pre-tax losses for the year through April were £1.9m, compared to losses of £14.0m on-year, and included one-off restructuring charges.
Revenue rose 13% to £134.8m and adjusted pre-tax profit was £4.7m, swinging from a loss of £2.8m.
Adjusted gross margin improved to 22.7%, up from 18.2%.
Accrol did not declare a final dividend, but added that should its improving financial performance continue as expected, dividend payments would likely recommence 'in the medium term'.
Accrol's toilet tissue revenues jumped 22%, while facial tissue revenue rose 5% and kitchen towel sales fell 9%.
The company said the toilet tissue market grew by around 8%, so it had increased its market share to 13.1%, from 12.5%.
'We believe the consumer push for value will be boosted in the Covid-19 shake-out, as consumers seek greater value, as demonstrated in the last recession which prompted a significant move away from higher cost brands,' the company said.
At 2:05pm: (LON:ACRL) Accrol Group Hldgs Plc share price was -3p at 52.5p