Coral Products (CRU)

Sector:

Manufacturing

Index:

FTSE AIM All-Share

 4.75p
   
  • Change Today:
      0.000p
  • 52 Week High: 9.90
  • 52 Week Low: 4.15
  • Currency: UK Pounds
  • Shares Issued: 82.61m
  • Volume: 44,948
  • Market Cap: £3.92m
  • RiskGrade: 312

Coral Products looks ahead after tough half-year

By Josh White

Date: Monday 20 Jan 2020

LONDON (ShareCast) - (Sharecast News) - Plastics specialist Coral Products reported a 7.2% decline in group sales in its half-year report on Monday, to £12.14m, as its gross profit fell 8.7% to £4.6m.
The AIM-traded company said its underlying operating margin was 1.6% lower year-on-year for the six months ended 31 October, at 37.9%, while its underlying operating profit excluding finance costs slid 51.9% to £0.49m.

Reported profit before tax plunged 95.7% year-on-year to £25,000.

The firm's underlying EBITDA was 23.2% weaker at £1.34m, and its underlying basic earnings per share slid 70.1% to 0.26p.

Coral's board proposed no dividend for the period, down from the 0.25p-per-share distribution it paid at the interim a year ago.

"In my chairman's statement that accompanied the release of the 2019 accounts I expressed concerns over the uncertainties associated with the ongoing Brexit situation," said chairman Joe Grimmond.

"Despite these concerns I am encouraged with the level of sales and profitability achieved over the period.

"However, there was a softening of demand during November and December 2019, possibly related to general election uncertainties, whilst January 2020 shows a renewed strengthening of demand."

Grimmond said that, while the second half was "encouraging" with the recycling business moving to a 24-hour, five day a week operation, new lightweight products introduced to the market and the new plastic sound barrier, the delay in the delivery of the MBRS tooling and the continued uncertainties meant that the company was likely to report "a small loss before taxation" overall for the full-year, and a small drop in EBITDA from the previous year.

"We are confident that we can build on this base and in our future performance."

At 0802 GMT, shares in Coral Products were down 7.69% at 7.5p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Coral Products Market Data

Currency UK Pounds
Share Price 4.75p
Change Today 0.000p
% Change 0.00 %
52 Week High 9.90
52 Week Low 4.15
Volume 44,948
Shares Issued 82.61m
Market Cap £3.92m
RiskGrade 312

Coral Products Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
87.37% above the market average87.37% above the market average87.37% above the market average87.37% above the market average87.37% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Price Trend
62.54% below the market average62.54% below the market average62.54% below the market average62.54% below the market average62.54% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Income
51.98% above the market average51.98% above the market average51.98% above the market average51.98% above the market average51.98% above the market average
38.46% above the sector average38.46% above the sector average38.46% above the sector average38.46% above the sector average38.46% above the sector average
Growth
62.84% below the market average62.84% below the market average62.84% below the market average62.84% below the market average62.84% below the market average
60% below the sector average60% below the sector average60% below the sector average60% below the sector average60% below the sector average

Coral Products Dividends

  Latest Previous
  Interim Final
Ex-Div 14-Feb-19 08-Nov-18
Paid 28-Mar-19 20-Dec-18
Amount 0.25p 0.25p

Trades for 29-May-2020

Time Volume / Share Price
11:16 4,948 @ 4.90p
10:34 40,000 @ 4.85p

Coral Products Key Personnel

Finance Director Sharon Adele Gramauskas
CEO Michael (Mick) Wood

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