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MANCHESTER - Coral Products plc (AIM:CRU), a UK manufacturer of bespoke plastic products, announced it expects profitability for the financial year ended April 30, 2025, to be "materially above market expectations," despite a slight decline in consolidated sales to £30.5 million from £30.9 million in the previous year.
The Wythenshawe-based company reported a strong financial position with over £750,000 in cash and cash equivalents at year-end, operating within its existing financing facilities and maintaining a strong net current asset position.
Coral Products completed the acquisition of Arrow Film Converters’ assets, branding, and customer relationships on April 1, 2025. The company stated the acquisition has had a "material and positive impact" on the financial performance of its combined flexible packaging businesses.
The company implemented management and organizational restructuring during the year, which it said has delivered reduced overhead costs and a more streamlined business. Capital expenditure exceeded £400,000 on complementary assets, including granulation and pelletizing equipment to enhance recycling capabilities.
"The Group’s performance reflects the strength and resilience of our operations, with a notably stronger second-half performance driving profits ahead of expectations," said Ian Hillman, Chief Executive Officer, in the press release statement.
Early trading in the current fiscal year is described as "encouraging," with profitability "significantly ahead of budget expectations," supporting confidence in a return to revenue growth and further margin improvement.
The company operates through strategic divisions serving markets ranging from flexible food packaging to industrial and automotive components, which it describes as providing resilience during uncertain market conditions.
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