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

Reuters01-08

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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