24th May 2023 11:56
Coral Products PLC - Manchester, England-based specialist in the design, manufacture and supply of plastic products - Expects revenue for the year ended April 30 to be over GBP35 million, compared to GBP14.4 million the year before. Says this is slightly ahead of market expectations. Adjusted earnings before interest, tax, depreciation and amortisation is expected to be not less than GBP3.5 million.
Executive Chair Joe Grimmond says: "In spite of the challenging trading conditions in the second half of the year, we have had a successful year, completing a further four acquisitions, which has led to the group more than doubling the revenue base together with a near doubling of group Ebitda. This marks a significant step towards our objective of building a specialist UK plastics business of scale, targeting profitable, high-demand sectors".
Current stock price: 16.00 pence each
12 - month change: up 3.2%
By Xindi Wei, Alliance News reporter
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