Source - RNS
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: 07703 518 148

 

Nominated Adviser

Cairn Financial Advisers LLP

Tony Rawlinson / Liam Murray

 

 

Tel: 020 7148 7900

Broker

Daniel Stewart & Company plc

David Lawman

 

 

Tel: 020 7776 6550

PR

Capital Markets Consultants Limited

Richard Pearson

Tel: 07515 587184

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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