The stock is still suspended "pending clarification of its financial circumstances".
Companies: Accrol Group Holdings plc
After last week's shock announcement that Accrol (AIM: ACRL) has suspended trading of its shares pending discussions with its lenders, Management has released a brief update on the Group.
The update said:
"The Directors believe that the current challenges facing the Company relate largely to FY18 and are likely to have less of an impact on the Company's trading performance in FY19. The Board are therefore confident that, whilst there can be no guarantee, a solution will be found to the Company's short-term funding requirements."
Suspended trading of its shares comes just 16 months since the Group IPO'd on AIM in June 2016, with a number of financial woes including increased input costs set to be the root cause.
Thursday's closing price of 132p represents a 20% increase from its IPO price in June 2016 but is below the all-time high of 165p in May this year. Prior to the suspension of trading, ACRL traded at a PE ratio of 10x, well below the industry average of 19x, and had a market cap of £129m.