Accrol shares suspended from trading

Blackburn-based Accrol Group, which is listed on the AIM stock exchange, has had its shares suspended due to financial complications.

The company said it is experiencing more challenging trading conditions than expected and the board is currently clarifying the company's financial position.

The tissue manufacturer posted double-digit growth in profit and turnover in July, but a month ago appointed its second CEO in less than a year.

Accrol says continued increases in input costs and delays to anticipated price inflation have effected figures for the 2018 financial year, but will have less of an effect in 2019.

The board has also recently been advised that a health and safety incident, which occurred prior to the company's AIM IPO, may now result in a more significant fine being imposed by the Health and Safety Executive (HSE) than was previously anticipated. Though this ruling should not impact trading, legal advisers have warned it may have a material impact on the company's cash position. New CEO Gareth Jenkins has been tasked with overseeing a wide-ranging review of the company's operations with a view to improving its margins and its overall financial performance.