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Accrol warns soaring internal, input costs to have a 'material' impact on performance

By BFN News | 08:48 AM | Monday 19 March, 2018


Accrol group said it expects a wider adjusted EBITDA loss for year ending 30 April 2018 to be in the region of £5m weighed by a trio of headwinds including rising internal costs, input costs and adverse foreign exchange hedging. The group warned that recent analyses revealed internal costs actually rose by circa 50% as a consequence of decisions implemented in May, June and July 2017, impacting the performance of the business more dramatically than was previously understood. 'The increased impact of these issues is expected to affect the performance of the group materially in the year to 30 April 2018,' the firm said. Net debt, currently at £31m, is also expected to be higher for the year-end than previously expected at £34m. The group sees new volume growth positively impacting first quarter for year ending 30 April 2019 along with strengthening margins across customer portfolio. Accrol said that since the beginning of fourth quarter of the 2018 financial year, it has secured two major pieces of business from existing retailers that will have a 'material impact from first quarter of financial year of 2019.' At 8:48am: (LON:ACRL) Accrol Group Hldgs Plc share price was -15.5p at 12.5p Story provided by StockMarketWire.com

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