A BLACKBURN business is planning an expansion in the new year after recording annual sales of nearly £120million.

Accrol Papers, which manufactures toilet rolls, kitchen rolls and tissues from its distribution centre in Roman Road, has released its full year results which show revenue increased by 17 per cent to £118million in the last year.

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And bosses have confirmed they are looking to open a new site near Blackburn in January after investing £3.2million in two new high speed converting lines.

The company, which produces 16.3 million units a week, now has a 35 per cent share of the discount sector with discounters accounting for 69 per cent of revenues - up six per cent on last year while sales to supermarkets includingTesco, Sainsbury’s and Asda increased by 15 per cent.

Steve Crossley, CEO, said the company was “very happy with the results which creates security going forward”.

“We are reviewing our capacity for the future and looking at a number of sites within the Lancashire area because we have two large converting lines in storage at the moment which we need to put into a facility,” he said.

He said it was too early to say how many jobs could be created and where the site.

However he revealed it was “not far from Blackburn” with space for a further two lines on top of the two they have in storage.

“The first thing is the business is very successful and going forward the jobs in this sector are very secure. We do see a number of opportunities,” he said.

Mr Crossley said Brexit also offered opportunities with the company “quite excited” about the potential benefits.

“It has created a number of opportunities from a commercial perspective because if there is a recession we are well placed to take advantage of that.

“A big percentage of our sales, 68 per cent, are in the discount market, so if there is a recession naturally the shopper will gravitate towards the discount and own label products.”

James Flude, chief financial officer, added in the long term Brexit might present opportunities for acquisitions.

The company recently announced a contract to supply a major global retailer from the autumn which is expected to add 10 per cent to their annual revenue.