Big order books | Travel delights
Full year results from a specialist engineering group covered here offer encouragement, but can it keep it going? Elsewhere in the world of engineering services, one of AIM’s larger companies is as steady as ever, with a huge order book offering plenty of visibility. Read on here for our thoughts on this and other news. (Premium)
Accrol: bog all to like? Accrol (AIM: ACRL), a leading independent tissue converter (think toilet rolls), reported in-line results for the six months ending 31 October 2023. Revenue fell 17.2% to £100.3m due to the easing of prices offered to customers following significant inflationary pressures in the prior year. Gross profit of £27.4m and the modest gross profit margin of 27.3% highlights the margin risk of this sort of business when faced with volatile input prices. After finance costs of £3.4m, pre-tax profit came it at only £437k, although that’s an improvement on the comparable period’s loss of £944k. The operating…