10th Mar 2021 14:35
Coral Products PLC - Manchester, England-based plastic products supplier - Says it has repaid the Haydock property mortgage of GBP1.6 million. This will result in cash savings in interest and capital repayments of GBP300,000 per annum. This repayment provides greater flexibility as regards to future financing, Coral Products says.
In addition, the company says it has repaid GBP500,000 of the CBIL loan with the intention of repaying in full the outstanding balance of GBP433,333 later in the year.
"This will support organic growth whilst allowing for us to seek acquisitions to augment our existing activities and reward shareholders for their long term support," says Executive Chair Joe Grimmond.
Current stock price: 11.88 pence, up 3.3% on Wednesday
Year-to-date change: up 28%
By Evelina Grecenko; [email protected]
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