27th Aug 2014 08:25
LONDON (Alliance News) - Coral Products PLC said Wednesday that it has seen increased revenue and margins in its first quarter and that current trading is in line with expectations.
In a statement released ahead of its annual general meeting Wednesday Joe Grimmond, chairman of Coral Products said demand remains strong across the group and that it is confident for future growth as it continues to increase its focus on new sales opportunities.
"Since announcing our year end results in July, we have commenced the integration of the recently acquired Tatra Plastics Manufacturing Limited, successfully completing the transfer of their injection moulding operations to our Haydock site. Full production is expected during September," said Grimmond.
Looking ahead, the company said that a recent agreement with an unnamed online retailer for the supply of a range of tote boxes is expected to have a positive impact of its second-half, though noted that the deal remains in trail stages.
In June the company signed the 10-year supply deal which it said could generate revenue of up to GBP8 million within the first two years of the contract.
Shares in Coral Products were Wednesday quoted at 14.00 pence per share, untraded.
By Alice Attwood; [email protected]; @AliceAtAlliance
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