Accrol Share Discussion Threads

[darrin1471] 20/11/2023 19:05

Thanks for the clarification.

I added more ACRL today on the back of the MCB update

[superbobo] 20/11/2023 16:52

Apologies, should have clarified that these were for Oct/Nov. Q1 private label growth was 10.8% and for the 4 months it was 11.7%, which implied that October is at 14.4%. Sorry don’t want to kidnap the ACRL chat but I think this is relevant. Personally don’t have any investments in MCB and only in ACRL.

[darrin1471] 20/11/2023 16:48

superbobo. Can you check the 14.4% as I can not see that number anywhere.

[superbobo] 20/11/2023 14:22

In terms of McBride, the private labels have grown even faster(14.4%) as they have previously announced for the Q1. Hoping for a good read-through for ACRL in the coming weeks. I agree on the comments of LO liquidating, most likely reason for tight price range

[darrin1471] 20/11/2023 09:19

Very tight spread this morning 29.9p-30.0p

Today in a TU MCB reported "private label volumes growing 11.7%" in 1st 4 months of current FY

[darrin1471] 17/11/2023 16:18

As I have said before the share price appears well "managed".
Pure speculation but I think recent large movement will relate to the shares Lombard Odier bought from NorthEdge a month ago for 25p. Lombard may have taken all the shares at such a low price and be happy to pass some of the risk to other investors for a near 20% profit in less than a month.
We could get a half year trading update on Monday (Monday 21st November last year).

[scemer] 17/11/2023 14:42

Amazing the price hasn't moved

[scemer] 17/11/2023 13:30

3million went through at lunchtime @ 29.50

[darrin1471] 16/11/2023 16:57

Another 250k trade at 29.5p today

[darrin1471] 10/11/2023 17:53

Over 200k traded at 29.75p on Thursday and over 200k at 29.5p in smaller trades today.
ACRL share price always appears well "managed"
We got a half year trading update 21/11 (Monday) last year.

[darrin1471] 08/11/2023 15:49

2m+ shares traded at 29.7p this lunchtime

[deanowls] 26/10/2023 14:42

Thoughts so Darrin.

[darrin1471] 26/10/2023 08:55

deanowls. There has been no share repurchase program. It was one of the options going forward.

[deanowls] 26/10/2023 06:46

Is there a share repurchase ongoing?

[darrin1471] 25/10/2023 19:12

Any dividend is likely to be small. IMO share buybacks are the least preferred option and only if the share price does not rise to fair value.
I think GJ wants a strong share price to fund bolt on acquisitions so ACRL can cross sell to their UK customer base.
Automation is complete so capex is limited to an expansion in wet wipes and tissues until the mill needs funding which was £10m and heavily back ended.

[arbus5000] 25/10/2023 18:39

there is a share repurchase programme on going - i wonder if a dividend is on the cards, depending on the capex situation

[darrin1471] 25/10/2023 18:15

ACRL H1 is about end so we should expect a trading update in the next month (21/11 last year)
Having already said "the Group is confident of achieving further volume and profit growth in FY24" and "efficiency has already delivered an improvement in margins back to pre-pandemic levels in the first few months of the new financial year" and "we now expect FY24 EBITDA will be ahead of the Board's prior expectations."
It now time for ACRL to deliver on those promises.

[clocktower] 25/10/2023 17:31

Would be nice to see a bit more volume and buying as it's still undervalued imo.

[darrin1471] 24/10/2023 15:42

Accrol employees on real living wage to get a 10% pay rise

[darrin1471] 19/10/2023 17:14

ACRL is still my largest holding. MCB is my 2nd largest holding.
MCB are Europe's largest supplier of private label cleaning and hygiene products.
Both ACRL and MCB were badly hit by input inflation. ACRL appears better invested and run than MCB.
I'm invested in both as I believe both will make make exceptional profits as input prices fall and as consumers move to private labels.
MCB share price has also been falling (25%) since recent highs in August despite an improving outlook throughout 2023.
In an unexpected trading update today MCB revealed that in the last 3 months MCB have traded above internal forecasts resulting in a 20% jump in the share price.
I'm hoping ACRL will have similar upgrades soon.

[darrin1471] 19/10/2023 16:53

The falling share price post results was hard to understand until this week when we saw the 8.62% sale by NorthEdge to Lombard Odier at 25p.
IMO the share price was traded down to the agreed price of 25p

Looking back I see NorthEdge held "above 15%" on 18/06/2018.
Prior to that NorthEdge were an investor in Accrol before the IPO in 2016
NorthEdge last reduced from 14.08% to 8.83% on 24/11/2020

[darrin1471] 19/10/2023 16:33

stevieweebie2. I'm obviously disappointed by the recent share price performance, especially as I was convinced this was about to take off. I do not see any evidence of poor performance from the management. I am sticking to my hope that ACRL are making above normal profits on falling input prices and not shouting about it in order to prevent customers queueing up for lower prices.

[clocktower] 19/10/2023 12:25

Because of the size of these reels, the cost of transport is no-doubt very low by comparison to finished product. The cost base in the UK is now far to high, hence we have destroyed most of our manufacturing capacity.

The country depends on finance and white collar staff, leaving us dependent on China, which in turn causes us the problems we have with China.

[stevieweebie2] 19/10/2023 11:10

It is often cheaper to buy imported parent reels into the uk than it is for the uk mills to manufacture them. Go to Jenkins warehouses in Liverpool docks and you will see hundreds upon hundreds of imported reels of tissue. Cest la vie

[this_is_me] 18/10/2023 21:23

How much would transporting pulp be in comparison?