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Lancashire-headquartered tissue products maker Accrol "outperformed its peers" by making new acquisitions and increasing its market share during the group's latest financial year.

The Blackburn business has reported a revenue of £136.6m for the 12 months to April 30, 2021, up 1.4% from the £134.8m it achieved during the same period a year earlier.

However, the listed group's pre-tax losses widened by 35.7% from £1.9m to £2.6m over the same period.

During the year Accrol snapped up Leicester Tissue Company and diversified via the John Dale wet wipes acquisition.

The group's market share increased from 13.1% to 15.9% in the year.

A statement issued to the London Stock Exchange said: "With the business in excellent operational shape, scalable foundations for growth in place, and a strong market position, the group is very well placed to benefit from the anticipated recovery in tissue volumes, as the effects of the pandemic unwind."

Executive chairman Dan Wright said: "This is the third straight year of strong improvements across many aspects of the business.

"Gross margins have improved again, and the business is even better placed to take advantage of the planned growth of the discounters.