31st Oct 2025 11:24
(Alliance News) - Coral Products PLC on Friday said that it took "decisive action" after a "disappointing" first half, as it posted a swing to an annual profit.
The Manchester, England-based maker of bespoke plastic products said it swung to a pretax profit of GBP216,000 in the financial year ended April 30, from a loss of GBP1.2 million a year prior.
Revenue fell 3.7% to GBP29.8 million from GBP31.0 million.
Notably, it reported a gain from other separately disclosed items of GBP1.3 million, compared to a loss of GBP2.0 million a year ago.
Chair Joe Grimmond said after a "disappointing" first half, the company "took decisive action by appointing a largely new executive team with a clear focus on strengthening our operational fundamentals. I am pleased to report that these actions and changes have led to significant improvements in the group's operational and financial performance, as clearly demonstrated in these results."
He added that financial year 2026 started strongly despite prevailing economic challenges. "The robust performance achieved in the first five months gives us confidence in our ability to deliver continued improvement going forward," he said.
Coral Products shares jumped 14% to 9.42 pence each on Friday morning in London.
By Tom Budszus, Alliance News slot editor
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Coral Products