AGM Statement

RNS Number : 0038L

Coral Products PLC

28 September 2016

 

CORAL PRODUCTS PLC

("Coral" or the "Group")

AGM Statement

Joe Grimmond, Chairman of Coral, will provide the following statement at the Group's AGM later today:

"I am pleased to announce that trading after the first 4 months of the current year is in line with management's expectations. Sales and Profits are both substantially ahead of same period for last year in spite of the negative impact of the significant fall in the value of sterling relative to the dollar and euro during this year.

Management is working diligently to mitigate these effects. One consequence of this fall is that it is likely to encourage the trend to import substitution creating greater opportunities for our UK manufacturing operations.

The recently merged tatra rotalac business is now fully operational and is poised for further improvement.

Order levels and cash flow are strong and in spite of prevailing uncertainties we remain confident for the year ahead.

Coral will announce its interim results for the six months ending 31 October 2015 in December."

Enquiries

Coral Products plc Joe Grimmond, Chairman	Tel: [phone]
Nominated Adviser Cairn Financial Advisers LLP Tony Rawlinson / Liam Murray	Tel: [phone]
Broker Daniel Stewart & Company plc David Lawman	Tel: [phone]
PR Capital Markets Consultants Limited Richard Pearson	Tel: [phone]

 

END

 

 

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