crassus
22 Nov 2017
Re: Questor says sell Demand for toilet paper will always be there. However, it need not be supplied by Accrol. If I was a customer I would be thinking about a contingency plan in the event that Accrol cannot fulfil my orders. At the very least this would mean diversifying suppliers so less orders going to Accrol in the future. This means that growth may be harder to come by in the future.
oilovlam
22 Nov 2017
Re: Questor says sell "I haven't seen any indication that they are losing their customers, that seems the most important criteria to me, now"---------- ---------- ---------- ---------- ---------- ---------- -------They are trying to negotiate price increases with their customers......obviously if those customers can get supplies cheaper elsewhere then they will go there. I don't expect there is any loyalty at the discount end of the market.....every penny counts.
Phillip Reid
22 Nov 2017
Re: Questor says sell I haven't seen any indication that they are losing their customers, that seems the most important criteria to me, now. I will stand corrected if I am wrong, but if they haven't lost customers, good times should return. AIMHO
sharegardener
21 Nov 2017
Re: Questor says sell I had these on my watchlist but not holding. Dismal situation but as mentioned in FT 'Markets Live' yesterday there has been a big fire last week at their main competitor in Leicester:[link] smaller companies can go off the rails with little warning.... DX was another - but then so can the big'uns eg CLLN.I will watch and wait to see how it all pans out as there may be recovery potential once the dust settles.SG
AndyRB
21 Nov 2017
Re: Questor says sell I sold out yesterday taking a big hit at 43p but I see I would be lucky to get 38p now . I wouldn't think anyone involved in the placing is feeling to happy now I wonder if they can back out . Anyway I think this is a total carcrash and the circumstances of the float should be investigated . Somebody got away with daylight robbery!
old_punter
21 Nov 2017
Questor says sell A bit unconvincing the argument I thought, he is saying it is high risk which we all know, but I was wrong in expecting a hold or buy so sold at a small loss, probably wrong but if a short term trade doesn't go right immediately its often best to cut and run.
old_punter
20 Nov 2017
Placing at 50p I posted on 5th October that under a quid this was worth a look, so at 44p have done so today. My guess is that after quite a time suspended those concerned must have reckoned they could get the placing away at 50p and if so a 10% discount to that on returning to the market is an opportunity.That said there is significant dilution and the share does not look obviously cheap and there are a lot of very disappointed recent investors, but perhaps the last point is a plus. What will the DT's Questor say having tipped the shares at 130p? And how about LIberum who had the stock under review having previously had a price target of 200p?An old market mate of mine who was a good trader used to reckon anything that had fallen by two thirds was probably a buy. If one factors in the dilution the fall is less, maybe a half, but if a decent case emerges for the stock, and to get the placing away at a premium to the current price that will be necessary, there may be some short term upside so I have paid 45p as a punt.But WDIK and DYOR.
BeaglePup
20 Nov 2017
Re: Out of control I've bailed out with my not insubstantial loss. At the risk of thread creep etc, the fall in sterling due to the Brexit vote was also a big factor in this failure and I doubt this will be the only company to have major financial issues over the next few years. I couldn't;t wait for a turnaround I need growth wherever I can find it in the short term, so this one is not the Hold that I wanted it to be when I invested. The sick joke is that the Consensus view in Sharepad shows as Buy.
PIE-EATER
20 Nov 2017
Re: Out of control won't be selling timeshares, probably 2nd hand black BMW, Mercs and Audis......DYOR
PIE-EATER
20 Nov 2017
Re: Rights issue at 50p So the directors are going to subscribe for just over 1% of the placing, with half that coming from the proposed new director...........4 other directors stumping up the other half between the four of them.Hardly inspiring!While I do have faith in Gareth Jenkins, there is no faith in previous incumbents. The new (ish) chair - Peter Cheung is an unknown quantity to me. I would like to say strong sell and get the heck out of here, but as my holding was small (and now minuscule)...I may just wait to see if there is a "dead cat bounce"GLA (we are going to need it)PE
oilovlam
20 Nov 2017
Out of control Sounds like the company was totally out of control.....extremely poor health & safety.....misleading shareholders that they could buy bulk paper reasonably when they couldn't.....couldn't be much worse. Lets hope the new guy can salvage something from the mess. I expect the family that originally owned the 'business' are happy they got rid of this 'pig in a poke'. I wonder if they sell timeshare now.
Laraghs fund
19 Nov 2017
Rights issue at 50p According to the Sunday Times there is going to be a rights issue this week, probably at 50p.Given that this company floated at 100p in the summer and the share price rose to around 140p, this is an amazing collapse. It's difficult to imagine that everything was going that well at the time of the float. I wonder if the management accounting system was up to scratch, if this can happen so fast. This could also be why the CEO jumped ship.This was written in July with their April 2017 results and apart from raw material pricing there was no sign of problems:After completing our first year on AIM, we are looking forward to consolidating the investments in our new production facility in Leyland and our new distribution centre in Skelmersdale. As before, our goal is to provide shareholder value through the provision of quality products and services to our existing and new customers.
WackerMark
10 Nov 2017
Blackburn tissue firm announces 89 job losses raising fears over its future A MAJOR manufacturer and employer has announced 89 job losses raising concerns about its future.Paper tissue manufacturer Accrol Group Holdings plc, based on Roman Road in Blackburn, has also revealed it is talking to its banks and shareholders regarding 'short term' finance requirements.The announcement of the redundancies, a sixth of its current 535-strong workforce, bring an end to three years of rapid growth which has seen the opening of a new factory in Leyland and a warehouse and distribution centre in Skelmersdale. [link]
oilovlam
13 Oct 2017
Re: What price when it returns? We now know what it is like to be a mushroom!!If anyone has confidence in the 'management' after recent events then I suspect it wont be shared by the market. The CEO has gone but what about the rest of the BOD....they knew nothing? Let's hope the new CEO can salvage something from the mess.Company was valued at £120m......I expect that will be a lot less when they re-list.
PIE-EATER
13 Oct 2017
Re: What price when it returns? Have been thinking about this a bit FWIW....please forgive me if I get some details slightly wrong...working from memory....Profits post tax were about £7m.....Debt had been dramatically reduced..(halved?).....CAPEX - can't recall but opened new facility in Leyland late spring / early summer so guessing that was in last financial year. IPO costs in previous year(s).OK...Currency hedging would have expired but still an oversupply of paper/reels? ....so cost pressures would be largely currency related?As far as I can see the only negatives are1) those currency pressures 2) a certain amount of ineptitude/ naivety in NOT forcing through some of the price rises or expecting to get bigger rises?3) HSE fine....max £2m?4) THE MAJOR ONE as far as I'm concerned.......GROSS repetitional damage.Parallel situation ???? Well the only one I can think of off the top of my head of late, with an AIM company where we are talking reputational damage is SFE. Steve Birmingham was wooing investors and lording it up and within 2 weeks profit warnings were being issued. Ok, no HSE fine, but SFE fell about 35-40% which would put us in the region of 80p - 100p.Fortunately Gareth Jenkins is no mug and has good and relevant experience with DS Smith. As far as I can see this is the ONE chance that they have to come clean, draw a line in the sand, and STAY SQUEAKY CLEAN. Unfortunately, and not wanting to slate broad sections of the community, but there is definitely a different "ethical" mentality from my 8-10 years working in the area....one where it is not really "what is the right thing to do?" but "what can I get away wth?" It is that which really concerns me at the moment. I know that many businesses employ the "minimalistic" approach but it really is on a different level there.....eye opening doesn't begin to describe it at times and so this hope for a line in the sand and being squeaky clean, well I'm not going to hold my breath for a while. There will definitely be interesting conversations between Gareth and the existing board / family members ....PE
