Coral Products reports 'much improved performance'

Coral Products issued an update on Thursday, saying that its actions announced in November and December last year to “address poor trading performance” at its subsidiary, Coral Products Mouldings, had resulted in a “much improved performance” in that division for the remainder of the financial year to 30 April.

The AIM-traded firm said “additional significant orders” were expected to further improve performance in the current financial year.

“As stated in the January update, all other group operations remained on budget and trading profitably and this has continued to be the case through to the year end,” the board said in its statement.

“Overall, the board is pleased to report that Group underlying profit for the year - defined as operating profit before share option and intangibles amortisation charges and also compensation for loss of office - is expected to be in line with the board's and market's revised expectations.”