UK independent tissue converter Accrol Group Holdings has announced “strong growth” in revenue and profit in its latest results, driven by increasing market share and volumes.
In its results for the year ended 30 April 2023, revenue was £241.9m, up 52% from £159.4m a year earlier, while adjusted EBITDA was £15.6m, up 71% year-on-year from £9.1m.
Group volumes increased by 7.7%, compared to “an overall flat tissue market,” and its market share increased by 200bps to 21.5% (FY22: 19.5%).
Accrol Group Holdings plc (LON:ACRL) is the UK’s leading independent tissue converter, producing toilet tissue, kitchen towel, facial tissue and biodegradable wet wipes. The UK soft tissue market is worth £1.6bn with private label products comprising circa 50%. Accrol is the leading supplier to the private label market, which is growing at over 8% year on year.
