Accrol Group Holdings plc (LON:ACRL), the UK’s leading independent tissue converter, has announced its results for the six months ended 31 October 2023.
The Board is pleased to report that the Group performed strongly in H1 FY24. While revenue reduced as expected, as prices eased following the significant inflationary-led increases in FY23, branded volumes continued to grow in our key markets, rising by 45% in H1 FY24, and margins returned to pre-pandemic levels rising by 930bp to 27.3%.
The Group is firmly on track to deliver FY24 results in line with the Board’s expectations and, following the acquisition of Severn Delta Limited (“Severn Delta”), now expects to outperform its previous expectations for FY25.