7th Jul 2025 14:32
(Alliance News) - Coral Products PLC on Monday said it expects to report a profit that beat market expectations in the financial year that ended in late April.
The Manchester, England-based maker of bespoke plastic products said it will reverse its first-half underperformance, as annual profit is set to be "materially above market expectations."
Coral shares jumped 29% to 10.00 pence each on Monday afternoon in London.
Coral expects to report sales of at least GBP30.5 million for financial 2025, compared to GBP30.9 million in financial 2024.
"Early trading in financial 2026 is encouraging, with profitability significantly ahead of budget expectations, supporting confidence in a return to revenue growth and further margin progression," Coral Products added.
Chief Executive Officer Ian Hillman said: "We continue to operate through well-defined strategic divisions, each aligned to its core markets and supported by a broad and differentiated manufacturing capability. This structure has enabled a more focused commercial approach, improved visibility, and better resource allocation across the group."
In May, the company had announced the promotion of Hillman from the position of chief operating officer to CEO.
Back then, Coral appointed Robert David as group operations director. David at that point had already been a key member of Hillman's senior operational management team.
By Tom Budszus, Alliance News slot editor
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