Source - SMW
Coral Products' trading after the first four months of the current year is in line with management's expectations, shareholders at the annual general meeting today will be told.

Chairman Joe Grimmond will say: "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."