Trading Statement

RNS Number : 7666K

Coral Products PLC

28 August 2012

 



28 August 2012

Coral Products plc

("Coral" or "the Group")

Trading Statement

Coral Products plc (AIM: CRU), which specialises in the design, manufacture and supply of injection-moulded plastic products, is pleased to report that trading for the first quarter of the financial year to 30 April 2013 has been solid and is in line with management expectations. In particular, Interpack Limited ("Interpack"), Coral's food packaging sales and distribution subsidiary, has continued to perform strongly and the Board looks forward to including the effect of its first full year in the Group's results.

Investment in manufacturing plant for food packaging containers and the upgrading of the Group's facilities has now been completed. Production of seven new products has commenced and sales are encouraging. Coral continues to invest in new products and its range of domestic waste and recycling products will expand through the introduction of an "Inner Caddy" for household wheeled bins which is expected to be in production by the end of 2012.

Following the successful acquisition of Interpack in September 2011, the Board has confidence in the strategy it has in place and is looking for further complementary earnings-enhancing acquisitions.

Enquiries

Coral Products plc Joe Grimmond, Non-Executive Chairman Warren Ferster, Chief Executive & Managing Director	Tel: [phone] Tel: [phone]
Nominated Adviser Cairn Financial Advisers LLP Avi Robinson / Tony Rawlinson	Tel: [phone]
Broker XCAP Securities plc David Lawman / Adrian Kirk	Tel: [phone]
Bankside Consultants Richard Pearson	Tel: [phone]

 

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