Coral Products PLC Trading and Operational Update (3698W)
August 01 2018 - 2:00AM
UK Regulatory
TIDMCRU
RNS Number : 3698W
Coral Products PLC
01 August 2018
CORAL PRODUCTS PLC
("Coral" or the "Company")
Trading and Operational update
Coral Products PLC, a specialist in the design, manufacture and
supply of plastic products based in Haydock, Merseyside, is pleased
to provide the following update:-
Trading update
The Group made an operating profit in each of the four months to
the 30 April 2018 and as a result the Board expect that the Group
will meet its revised market expectations for the 12 months to 30
April 2018 which were announced on 12 January 2018.
This improved operating performance over the past four months
has continued into the current financial year with both sales and
margins ahead of the same period last year.
The Board look to the future with increased confidence as a
result of a strong order book and expected further improvement in
operating performance in coming months.
Operational update
The Board is pleased to announce that it has ordered a Plastic
Recycling Unit to be installed at its Haydock facility. Delivery
and installation is expected to occur in December 2018 with the
plant being operational in January 2019.
The plastic recycling plant is expected to contribute to
revenues in the financial year to 30 April 2019.
The plastic recycling plant will increase the Group's ability to
offer a 360-degree service to many of its customers, in turn
reducing land fill and single use of plastics resulting in a
reduction in both internal waste and raw material costs.
A further announcement will be made in due course.
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
Tony Rawlinson / Liam Murray
Daniel Stewart & Company plc Tel: 020 7776 6550
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 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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