The Company has had a strong year of growth in its first year as a publicly listed business following its successful IPO on AIM in June 2016, and is pleased to announce that it has performed in line with market expectations despite some challenging macro-economic factors.
Over the last twelve months, Accrol has consolidated its position as the leading supplier of tissue products to the Discount sector and has continued to invest in its growth plans with the opening of a new 168,000 sq. ft. manufacturing facility in Leyland, Lancashire in January 2017, increasing production capacity to 143,000 tonnes per annum.
The Company is also pleased to announce today that it has agreed a 10-year lease with Orbit Developments on a 368,000 sq. ft. warehouse in West Lancashire. The warehouse will store finished goods and provide central distribution facilities to all UK customers, enabling Accrol to simplify and consolidate its existing warehouse facilities. Warehouse management and national logistics will be contracted out to NFT.
Steve Crossley, Accrol's CEO, commented:
“We are pleased to announce that, despite a less favourable macro-economic environment, we have performed in line with expectations in our maiden year as a publicly-listed business. We have continued to make progress with our growth plans, extending our relationships with both new and existing customers and investing in our infrastructure for the future.
Final results for the year ended 30 April 2017 will be announced on 10 July 2017.
Today, the Company will be holding an Investor Day at its Head Office in Blackburn, Lancashire. There will be no material information disclosed that is not already in the public domain.