REG - Coral Products PLC - AGM Statement

Coral ProductsAnnouncement

26/11/2025 07:00

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RNS Number : 9924I  Coral Products PLC  26 November 2025

 

Coral Products Plc

('Coral' or the 'Company' or the 'Group')

 

AGM Trading Statement

"Continued progress & Momentum"

Coral Products PLC, a specialist in the design, manufacture and supply of
specialist and technical plastic products based in Wythenshawe, Manchester, is
holding its Annual General Meeting today. The Chairman will make the following
statement:

"The Group has continued to build on the positive and progressive momentum
referenced in our trading update of 7 July 2025 and again in the full year
results announcement of 31 October 2025.  Across all three operating
divisions - Flexibles, Rigid and Distribution with Group sales revenue
(Including intercompany sales) for the six month period to 31 October 2025 is
expected to be more than 30% ahead of the same period in 2024, together with a
strong underlying operating profit in line with management expectations.

The strong performance year to date has been delivered despite a challenging
UK market and economy where underlying demand levels remain subdued across
several of our market segments, while simultaneously managing a number of
legacy issues across the Group.

Revenue growth in the first six months has been driven by both the Arrow
acquisition in April 2025 and new business wins within our established
operations, which will support revenues in the second half of the current
financial year ("H2"). Operational profit improvements have been delivered
through further asset utilisation, continued margin enhancement and the
integration of products to provide a broader, more co-ordinated offering, all
of which create further improvement opportunities.

Flexible Division:

The Flexible division has performed well during the period and has seen the
successful integration of Arrow Film & Foil Converters Ltd, acquired in
April 2025, into the wider Flexible Division.  The immediate focus for the
Arrow business has been sustainable profitability rather than revenue.
Whilst the Arrow business has delivered revenue in line with management
expectations, we have successfully created a profitable platform that now
allows us to focus on optimising capacity and unlocking further growth in H2
and beyond.

The Flexible Division experienced a modest impact to both sales and margin in
September and October 2025 following a customer insolvency, but this has not
materially affected the Group performance and the division remains well placed
to continue progress into H2 and beyond.

Rigid Division:

The Rigid division has recorded solid revenue growth versus the same period
last year, with gross margin improving steadily from operational efficiencies
and strengthened cost controls.  Substantive progress has been made to
improve the financial performance of the Manplas Ltd with further improvements
expected in H2. The Rigid Division remains well-placed to deliver in line with
management expectations in H2 and beyond.

Distribution Division:

The Distribution division continues to perform well, with deeper customer
penetration and increased cross-selling across the wider Group customer base.
The division remains a key part of Coral's integrated value proposition,
helping to deliver the short lead time expectations and service breadth.

Outlook

Given the strong first-half performance across all divisions, the Board
remains encouraged by the integrated product offering driving a strengthened
pipeline and enhanced business resilience through diversity.  Whilst the
Board remains mindful of the macroeconomic environment and continued headwinds
faced by UK manufacturing businesses, it is confident that the business is
focused on the right priorities and therefore expects to deliver a full-year
result in line with management expectations.

The Board remains committed to delivering above-market profitable growth and
further strengthening Coral's role as a trusted, value-added UK packaging and
engineered parts partner.

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain. The
Directors of the Company take responsibility for this announcement.

 

For further information, please contact:

 Enquiries:                             www.coralproducts.com

 Coral Products plc

 Joe Grimmond                           Non-Executive Chairman   0161 946 9460

 Ian Hillman                            CEO                      0161 507 9302

 Cairn Financial Advisers LLP           NOMAD and Broker         020 7213 0880

 Sandy Jamieson / Ludovico Lazzaretti

 

About Coral Products:

 

Coral Products Group is a specialist producer of technical and added value
polymer products produced from both rigid and flexible substrates that combine
to offer customers the widest choice of products and packaging solutions.
Based in the UK with 5 manufacturing facilities and 2 distribution locations
the business is trusted by leading UK brands and companies across food
packaging, retail, personal care, household, construction, automotive and
tele-communication sectors.

 

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