AGM Trading Statement

RNS Number : 3350Q

Coral Products PLC

27 October 2021

 

CORAL PRODUCTS PLC

('Coral' or the 'Company' or the 'Group')

AGM Trading Statement

Mr Joe Grimmond, Chairman, will make the following statement at the Annual General Meeting of the Company today at around 12pm.

"I am pleased to announce that the Group has enjoyed a very strong first half to our current financial period. The Group will report sales and profits before tax substantially ahead of the same period for last year.

This is in spite of a disappointing contribution from Global One Pak Ltd. This is primarily due to logistic cost increases relating to our Chinese trading compounded by the continuing ill health of the managing director. Your Board have taken immediate steps to address both issues however trading conditions, especially with the Far East, remain problematic. The Board believe this is expected to present better opportunities to on shore manufacture and we are well set to benefit from such.

In order that our shareholders can share in this improvement your Board has declared an interim dividend of 0.5 pence per share with an ex-dividend date of 11 November 2021 and record date of 12 November 2021. This interim dividend will be paid on 3 December 2021."

ENQUIRIES :

Coral Products plc

Joe Grimmond, Executive Chairman     Tel: [phone]

WH Ireland, Nominated Adviser and Broker     Tel: [phone]

Adrian Hadden

Darshan Patel

Megan Liddell

Capital Markets Consultants Limited  Tel: [phone]

Richard Pearson 

 

END

 

 

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