UK's Coral Products H1 revenue rises on higher intercompany sales

Reuters
01/08
UK's Coral Products H1 revenue rises on higher intercompany sales

Overview

  • UK plastic products maker's H1 revenue rose 29.4% including intercompany sales

  • Underlying profit before tax improved significantly from a loss to £0.4 mln

  • Company's operational improvements contributed to financial performance

Outlook

  • Coral Products expects H2 revenue to be marginally higher despite seasonal effects

  • Operational restructuring at Manplas Ltd expected to bring consistent profitability

  • Coral Products' full-year outlook remains unchanged

Result Drivers

  • VERTICAL INTEGRATION - Intercompany sales increased by 225%, reflecting successful integration of Group businesses

  • ARROW ACQUISITION - Acquisition of Arrow Film & Foil Converters Ltd contributed to revenue growth and profitability focus

  • OPERATIONAL IMPROVEMENTS - Rigid division's gross margin improved due to operational efficiencies and cost controls

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

H1 Revenue

GBP 21.10 mln

H1 Gross Profit

GBP 6.70 mln

Analyst Coverage

  • The stock recently traded at 26 times the next 12-month earnings vs. a P/E of 33 three months ago

Press Release: ID:nRSH0757Oa

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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