Accrol Group Holdings - Re: ACRL Stream Log - PIE-EATER. With the greatest respect...

PIE-EATER. With the greatest respect I couldn't disagree more. What did you expect - a miracle? Sadly this isn't Fevertree but a low-margin, own-label tissue producer. There is only so much that can be done in the ST, particularly around topics such as the forward FX contracts. That being said and taking into accounts all the limitations of the business model I think the CEO gave comfort that the ship is being steered in the right direction. IMHO anyone who stayed the course so far would be mad to sell at this point. Barring any further exogenous calamities (GBP collapsing, reel prices rocketing further) there is some significant upside risk here. Bear in mind the business that EBITDA in the previous 2 years was c. £15m. At the current level the business is trading around 3x that figure. Assuming a mid-term recovery back to this level would make the current valuation a bargain. Is it high risk - absolutely. But we know that. Has today's announcement increased the level of risk. Absolutely not...