Accoya producer reports annual sales growth19 June 2018
Chemical wood modification group Accsys Technologies plc has reported an 8% growth in annual revenue and 7% increase in Accoya sales volumes to 42,676m3.
Group revenue for the year ended March 31, 2018 was €60.9m, with a gross profit of €13.6m and underlying loss before tax of €8.8m.
Accsys said underlying earnings before interest, tax, depreciation and amortisation (EBITDA) improved to a €0.7m loss in the second half of year compared to €2.8m loss in first half. It said a 30% gross margin from the manufacturing of Accoya continues to be achievable.
Paul Clegg, Accsys chief executive, reported excellent progress on projects to increase the manufacturing footprint at Arnhem and Hull to more than double capacity by mid-2019, with a 50% increase “going live now”.
“This capacity transformation will make a real difference to both margins and sales volumes, which have been constrained to date,” he said.
“We are achieving good results from developing sales to both existing and new customers in our established markets, as well as newer ones.”