Toilet paper manufacturer Accrol says it is “in a stronger position than ever before”, boosted by the stockpiling by shoppers in March.<\/p>\n
Core revenues reached record levels for the Blackburn-based group while its response to the spike in consumer demand in the early stages of the coronavirus crisis “reinforced its strengthening relationships across its UK retail customer base”.<\/p>\n
Accrol supplies nearly all of the major UK grocery retailers with private label toilet tissue, kitchen towel and tissues.<\/p>\n
Core sales were up 14% in the year to April, to \u00a3132.7m, while net debt has been reduced by one-third, \u00a39m, from a year ago.<\/p>\n
Accrol’s board said it “views the future with increasing confidence” in a trading update issued this morning and the confidence has been shared by investors in recent weeks.<\/p>\n
Its share price has seen a V-shaped recovery since the pre-lockdown drop, when it lost 30% of its value in a week. It has more than recovered its losses and last night’s close of 42p is its highest point since November 2017. <\/p>\n
Although Accrol expects to be impacted by some cost increases, it believes it has a “robust” business model that is “structured to enable the swift management of fluctuating prices”.<\/p>\n
The group has been able to implement social distancing at its factory, while its office staff work from home, and it has not needed to furlough any staff.<\/p>\n","protected":false},"excerpt":{"rendered":"
Revenues and relationships ‘reinforced’ after customer stockpiling<\/p>\n","protected":false},"author":18,"featured_media":2059550,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"coauthors":[81],"class_list":["post-2059549","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-manufacturing","tag-featured-story"],"yoast_head":"\n