Business
Final Results & Notice of AGM
Final Results & Notice of AGM.
About this update from Coral Products Plc
[{"type":"text","content":"\n \nRNS Number : 8428J Coral Products PLC 22 August 2019 \n\n22 August 2019 \nCORAL PRODUCTS PLC\n('Coral' or the 'Company' or the 'Group')\n \nCoral Products PLC, (the \"Company\" or the \"Group\") a specialist in the design, manufacture and supply of injection moulded plastic products based in Haydock, Merseyside, announces its audited final results for the year ended 30 April 2019.\n \nKEY FINANCIALS\n \n\n\n\n \n2019\n£\n2018\n£\nChange\n\n\n\nGroup revenue \n\n\n24,733,000\n\n\n23,405,000\n\n\n5.7%\n\n\n\n\nOperating profit/(loss)\n\n\n479,000 \n\n\n(186,000)\n\n\n- \n\n\n\n\nGross Margin\n\n\n35.9%\n\n\n34.6%\n\n\n3.8%\n\n\n\n\nUnderlying operating profit *\n\n\n1,018,000\n\n\n879,000\n\n\n15.8%\n\n\n\n\nProfit/(loss) for the year before taxation\n\n\n 41,000\n\n\n(497,000)\n\n\n-\n\n\n\n\nUnderlying profit for the year before taxation*\n\n\n580,000\n\n\n568,000\n\n\n2.1%\n\n\n\n\nUnderlying EBITDA* \n\n\n2,479,000\n\n\n2,091,000\n\n\n18.6%\n\n\n\n\nUnderlying earnings per share (see note 3)*\n\n\n0.75p\n\n\n0.84p\n\n\n(10.7)%\n\n\n\n\nDividend paid per share\n\n\n0.25p \n\n\n0.25p\n\n\n0.0%\n\n\n\n\n \n* Underlying results are reported before separately disclosed items, as shown in note 2. Such underlying results are not intended to be a substitute for, or superior to, IFRS measures of profit. \n \nHEADLINES\n \n· Group revenue increase of 5.7%. Gross margin increased to 35.9% (2018: 34.6%). Underlying operating profit increased to £1.0m (2018: £0.9m).\n \n· Underlying EBITDA increased by 18.6% to £2.5m (2018: £2.1m).\n \n· Entered into a development agreement with \"Rotite Technologies Ltd\" to accelerate innovation in the Group's growing range of products.\n \n· We remain a supplier of choice for a major on-line tote retailer with a further extension to supply into 2019/20.\n \n· Commissioned into production \"state of the art\" Recycling unit into ...