Coral Products PLC Trading Update (9498T)
26 March 2019 - 6:00PM
UK Regulatory
TIDMCRU
RNS Number : 9498T
Coral Products PLC
26 March 2019
CORAL PRODUCTS PLC
("Coral" or the "Company")
Trading Update
Coral Products PLC, a specialist in the design, manufacture and
supply of plastic products based in Haydock, Merseyside, announces
that despite reporting a strong recovery in the first half of the
financial year and an encouraging start to the second half , a
number of key factors have adversely impacted on performance in the
latter part of the second half of the financial year, including a
downturn in business generated from the automotive industry and
significant delays in delivery of totes ordered from a major
on-line retailer.
In the six months to 31 October 2018, the Company reported a
profit before tax of GBP582K. This was followed by a loss in the
four months to 28 February 2019 and, as a result, the Board
therefore now expects the Group's results for the year ending 30
April 2019 to be materially below both Management and Market
Expectations.
As previously announced, the interim dividend of 0.25 p per
share will be paid on 28 March 2019.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Enquiries:
Coral Products plc Tel: 01942 590272
Mick Wood, CEO
Sharon Gramauskas, FD
Cairn Financial Advisers LLP Tel: 020 7213 0880
Nominated Adviser and Broker
Tony Rawlinson / Liam Murray Tel: 07803 505735
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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