- Chemical technology company Accsys reported a decline in annual profit as stronger revenue was offset by rising costs and the impact of the pandemic in the first quarter of the year.

For the year ended 31 March 2021, pre-tax profit fell to €0.3 million from €1.5 million year-on-year, while revenue rose 10% to €99.8 million.

Revenue was driven by the strong performance of the accoya business, with average sales prices improving as a result of product price increases that took effect during the year, though were partially offset by upward variable costs pressures

'This improved pricing was one of the main drivers in helping underlying gross margin to increase to 33% compared to 30% last year,' the company said.

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