GB : Accrol Group Holdings - Earnings in line; further operational and strategic progress
Accrol has announced profits will come in line with expectations for FY’21. There are some moving parts with revenues disrupted by lockdown 3.0 but a significant increase to gross margins has mitigated this one-off impact. The discounter segment is recovering as restrictions ease and Accrol’s share within the market is now 16%, compared to 13% in FY20. Debt has fallen again, the group has committed to a return to dividends and the integration of the two M&A deals is ahead of expectations.
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