A soft tissue manufacturer appears to have put its troubles behind it.
The Accrol Group, which has plants in Leyland and Blackburn, was upbeat as it posted a trading update this week.
It has undergone a restructuring after a turbulent few years - at one point trading in its shares was suspended.
But the Accrol board said following the conclusion of the restructuring, the group performed well in the last quarter of 2018 and in line with the management’s strategic turnaround objectives, achieving and maintaining acceptable levels of monthly profitability.
Accrol manufactures toilet rolls, kitchen rolls and facial tissues as well as other tissue products.
It employs dozens of people at its 168,000 sq ft manufacturing facility at Lancashire Business park in Leyland.
Total revenues in FY19 were around £119m, broadly unchanged on a like for like basis against the prior year, as the group exited a number of low margin contracts.
Sales in the group’s core toilet roll product, however, increased by about 12 per cent year on year to around £85m from £76m in 2018. Adjusted loss before tax is expected to be in the range of £2.5m to £3m.
Accrol chairman Dan Wright said: “I am very pleased to report that we finished FY19 in a much stronger position, following the conclusion of a transformational restructuring. The group is now enjoying the full benefits of the structural cost savings. Our management team is confident of delivering further profitable revenue growth and creating new exciting opportunities for the group. “
“I look forward to reporting further details of our progress when we announce the Final Results in September.”