Accsys Technologies plc : Trading update: softer demand experienced, 2024 results to come in below current consensus
>Unexpected trading update with negative news flow (softening demand) - Accsys has just issued a trading update for the first four months of fiscal FY24. The company says that sales and volumes in the first four months have been ahead of the prior year, which is positive and in line with our expectations. However, Accsys continues by saying that trading conditions have softened due to rising interest rates and higher inflation, resulting in lower construction activity...Accsys Technologies is a holding company. Through its subsidiaries, Co. is a chemical technology group focused on the development and commercialization of a range of transformational technologies based upon the acetylation of solid wood and wood elements (wood chips, fibres and particles) for use as construction materials. Co.'s business consists of the following: commercial scale Accoya® wood production and sales facility in Arnhem; building and operating of Tricoya® wood chip acetylation plant in Hull; Accoya and Tricoya technology licensing and business development; and technology and product development.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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