Accrol Group Holdings PLC (LON:ACRL) will show a substantial improvement in trading in the year just ended, helped by restructuring and a jump in toilet roll sales.
The group performed well in the last three months said Dan Wright, chairman, with revenues for the year of £119mln, or unchanged on a like-for-like basis.
Sales in the core toilet roll division increased by 12% year-on-year to £85mln.
Underlying profits for the year are £1mln or a £7mln turnround on the prior year in spite of currency headwinds and a £10mln rise in raw material costs.
Net debt also fell faster than anticipated and was £27.1mln at the year-end.
Wright said: “I am very pleased to report that we finished FY19 in a much stronger position, following the conclusion of a transformational restructuring, and that the new financial year has started well.
“The group is now enjoying the full benefits of the structural cost savings achieved in FY19, achieving an acceptable level of margin for a business of its type.“