Coral Products PLC Trading Statement (4814H)
08 June 2017 - 4:00PM
UK Regulatory
TIDMCRU
RNS Number : 4814H
Coral Products PLC
08 June 2017
Coral Products plc
Trading update
Further to the Company's trading update dated 27 January 2017,
the Board is pleased to announce that the immediate actions taken
by management in Q3 to address poor trading performance at the
Company's subsidiary, Coral Products Mouldings Limited in November
and December 2016 have resulted in a much improved performance in
that subsidiary for the remainder of the financial year ended 30
April 2017. Additional significant orders are expected to further
improve performance in the current financial year.
As stated in the January update, all other Group operations
remained on budget and trading profitably and this has continued to
be the case through to the year end.
Overall, the Board is pleased to report that Group underlying
profit for the year (defined as operating profit before share
option and intangibles amortisation charges and also compensation
for loss of office) is expected to be in line with the Board's and
market's revised expectations.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Enquiries:
Coral Products plc Tel: 07703 518 148
Joe Grimmond, Chairman
Cairn Financial Advisers Tel: 020 7213 0880
LLP
Nominated Adviser
Tony Rawlinson / Liam
Murray
Daniel Stewart & Company Tel: 020 7776 6550
plc
Broker
David Lawman
Capital Markets Consultants Tel: 07515 587 184
Limited
PR
Richard Pearson
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed
to be, forward looking statements. Forward looking statements are
identi ed by their use of terms and phrases such as "believe",
"could", "should" "envisage", "estimate", "intend", "may", "plan",
"potentially", "expect", "will" or the negative of those,
variations or comparable expressions, including references to
assumptions. These forward looking statements are not based on
historical facts but rather on the Directors' current expectations
and assumptions regarding the Company's future growth, results of
operations, performance, future capital and other expenditures
(including the amount, nature and sources of funding thereof),
competitive advantages, business prospects and opportunities. Such
forward looking statements re ect the Directors' current beliefs
and assumptions and are based on information currently available to
the Directors.
A number of factors could cause actual results to differ
materially from the results discussed in the forward looking
statements including risks associated with vulnerability to general
economic and business conditions, competition, environmental and
other regulatory changes, actions by governmental authorities, the
availability of capital markets, reliance on key personnel,
uninsured and underinsured losses and other factors, many of which
are beyond the control of the Company. Although any forward looking
statements contained in this announcement are based upon what the
Directors believe to be reasonable assumptions, the Company cannot
assure investors that actual results will be consistent with such
forward looking statements. Accordingly, readers are cautioned not
to place undue reliance on forward looking statements. Subject to
any continuing obligations under applicable law or any relevant AIM
Rule requirements, in providing this information the Company does
not undertake any obligation to publicly update or revise any of
the forward looking statements or to advise of any change in
events, conditions or circumstances on which any such statement is
based.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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