TIDMCRU
RNS Number : 2260W
Coral Products PLC
11 December 2023
CORAL PRODUCTS PLC
("Coral" or the "Group")
Interim Results
Coral Products plc, a specialist in the design, manufacture and
supply of plastic products, announces its results for the six
months to 31 October 2023.
"Investing In Future Growth - Current Earnings In-Line"
Financial headlines Six months Six months
to to
31 October 31 October
2023 2022 % Change
GBP17.2 GBP17.6
Group sales million million (2.27)%
---------------------------------------- ---------------- ---------------- ---------
Gross profit GBP6.0 million GBP4.8 million 25.0%
---------------------------------------- ---------------- ---------------- ---------
Reported profit before taxation GBP836,000 GBP894,000 (6.6)%
---------------------------------------- ---------------- ---------------- ---------
Underlying basic earnings per
share * 1.27p 1.17p 12.0%
---------------------------------------- ---------------- ---------------- ---------
Underlying operating profit (excluding
finance expenses) * GBP1,697,000 GBP1,376,000 23.3%
---------------------------------------- ---------------- ---------------- ---------
Underlying EBITDA * GBP2,326,000 GBP1,881,000 25.9%
---------------------------------------- ---------------- ---------------- ---------
Interim dividend per share 0.50p 0.50p
---------------------------------------- ---------------- ---------------- ---------
* The financial headlines disclosed as underlying represent the
reported metrics excluding separately disclosed items (being share
based payment charges, amortisation of intangible assets and other
one-off costs in each period), see note 7.
Operational and Financial Highlights
H1 Trading
-- Revenues broadly level at GBP17.2m reflecting the decision to
pull back from lower margin business lines balanced against organic
growth and full contributions from the Manplas and Ecodeck
businesses acquired in September and October 2022.
-- Group benefiting from the focus on higher margin products
shown in the 25% increase in gross profit.
-- Underlying EBITDA on track at GBP2.3m alongside continued investment in capex programme.
-- Cash and cash equivalents were GBP2.9m as at 31 October 2023
(2022: GBP3.8m) after paying GBP1.3m for the earnout payment for
Alma in July 2023.
-- Overall net asset position remains strong.
Investing in future growth via capex programme
-- GBP0.5m investment, in the period, in key machinery including:
o Installing 5 new 350/650 tonne capacity injection moulding
machines complete with robotics.
o Installing a new in-mould labelling line.
o Commissioning 8 new injection moulds.
-- New machines already in action and expected to boost sales and earnings over second half.
Sustainability Objectives
-- The Group is proud of its focus on sustainability:
o Adoption of bio-based materials.
o Increasing move to re-cyclable materials.
o Increasing use of recycled materials in the manufacturing
processes.
o Supply chain tracking and transparency.
Outlook
-- While the market remains challenging, Group is well
positioned to meet targets for the year.
-- New machinery installed in H1, already operational and delivering to plan.
-- The new investment is operational together with further
investments in a new pipe extruder now being installed at
Tatra-Rotalac and a new sheet extruder in the progress of being
installed at Manplas will drive our Group forward.
-- These investments together with the existing orderbook will
continue to drive growth in the near to medium term.
Post balance sheet:
Appointment of new Chief Executive
-- Lance Burn appointed to take up the role of CEO of the Group from 2 January 2024.
-- Joins from IG Design Group Plc where he has been an Executive Board Director since 2012.
-- As part of the management change, Joe Grimmond will move from
being Executive to Non-Executive Chairman.
Joe Grimmond, Executive Chairman, commented:
"These results are pleasing as they show our ability to
successfully bed down the four acquisitions we made in 2022, which
doubled the size of our business, as well as weed out lower margin
business lines. As a result of these changes, we remain on track
with our year end earnings targets. Our overall objective remains
to build a specialist UK plastics business of scale, targeting
profitable, high-demand sectors. To this end, we maintained sales
whilst substantially improving gross margins. Key to future growth
is the investment we have made and continue to make in new
machinery positioning us to win new contracts and expand upon
existing relationships. Overall markets are challenging currently,
nevertheless, we are confident the business remains well
placed."
Enquiries: www.coralproducts.com Tel:
-------------------------------- ----------------------- --------------
Coral Products plc
Joe Grimmond Executive Chairman 07703 518 148
Cavendish Capital Markets
Limited
Adrian Hadden, Charlie
Beeson (Corporate Finance)
Charlie Combe (ECM) NOMAD and Broker 020 7397 8900
Novella Communications
Tim Robertson/Safia Colebrook
coral@novella-comms.com Financial PR 020 3151 7008
Regulatory Information
The information contained within this announcement is deemed to
constitute inside information for the purposes of Article 7 of EU
Regulation 596/2014 (Market Abuse Regulations) which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. Upon
publication of this announcement, this inside information is now
considered to be in the public domain.
Caution regarding forward looking statements
This announcement contains unaudited information and
forward-looking statements that are based on current expectations
or beliefs, as well as assumptions about future events. These
forward-looking statements can be identified by the fact that they
do not relate only to historical or current facts and undue
reliance should not be placed on any such statement because they
speak only as at the date of this document and are subject to known
and unknown risks and uncertainties and can be affected by other
factors that could cause actual results, and Coral's plans and
objectives, to differ materially from those expressed or implied in
the forward-looking statements. Coral undertakes no obligation to
revise or update any forward-looking statement contained within
this announcement, regardless of whether those statements are
affected because of new information, future events or otherwise,
save as required by law and regulations.
About Us
Coral Products is a one stop shop for all plastic needs. Coral
Products manufactures and distributes plastic injection, extruded
and vacuum formed moulded products into a diverse range of sectors
including personal care, household, healthcare, automotive,
telecoms and rail. The Group has manufacturing and distribution
facilities across the North West of the UK.
By developing innovative plastic moulded products, providing
excellent customer service and through its hard-working employees,
Coral Products continues to refocus on new markets creating growth
and value for its shareholders.
Sustainability is a core principle of our business. In all
manufacturing processes, any scrap or waste material is reused or
recycled. We offer "end-of-life" recycling and where viable we
adopt and use bio based and re-cyclable materials and provide
supply chain tracking and transparency.
Executive Chairman's Statement
Introduction
This will be my last results statement as Executive Chairman of
Coral, a s I move from being Executive to Non-Executive Chairman on
2 January 2024 when Lance Burn becomes CEO of the Group.
I am delighted Lance has agreed to take over the leadership of
Coral and I feel confident that he has the necessary skills,
dynamism and market experience to take the business forward. As
these results for the six months to 31 October 2023 show the
Company is in good health and we have established a strong base
from which to achieve our aim of building a specialist UK plastic
business of scale. In the period under review, we maintained sales
despite stopping a number of lower margin contracts with the
shortfall covered by organic growth and receiving the full benefit
of the Manplas and Ecodeck acquisitions made in September and
October last year. Focusing on higher margin contracts is key to
our future success and it is reflected in the significant
improvement in our gross margin.
Looking ahead, we remain cautious about the economy in general,
but we are confident that our businesses and the investment we have
made will ensure we deliver a good result for the year.
Results and Financial Position
Trading in the first half of the current year shows revenue
broadly in line with previous year despite the strategic exit of
low margin activities with circa GBP2.0m revenue. Reported revenue
was GBP17,177,000 (2022: GBP17,587,000), gross margins were
improved to 34.8% (2022: 27.1%) resulting in a gross profit of
GBP5,974,000 (2022: GBP4,759,000). Underlying EBITDA was
GBP2,326,000 (2022: GBP1,881,000) and underlying operating profits
increased to GBP1,697,000 (2022: GBP1,376,000).
The balance sheet net asset position remains strong at GBP1 4
,448,000 (2022: GBP14,881,000). This represents a solid asset
platform for developing the business.
Operations
Tatra-Rotalac
A leading provider of plastic extrusion and injection moulded
products for commercial use, Tatra-Rotalac has met the Board's
expectations during the first half of the financial year. The
installation of 5 new injection moulding machines complete with
robotics alongside a new in-mould labelling line has significantly
expanded the capabilities of this business. This new equipment
which has now been commissioned is expected to significantly
improve our second half performance.
Global One-Pak
A leading supplier of lotion pumps, triggers and mist sprayers,
Global One-Pak is currently experiencing logistical cost increases
from Chinese suppliers. Performing against a much-reduced sales
budget and cost base, Global One Pak has improved gross margin and
operating profit. Going into the second half of the financial year,
trading is expected to improve further alongside the start of a new
contract to produce a new range caps and enclosures in the UK.
Manplas/Customised Packaging
In May 2023 the decision was taken to merge Customised Packaging
into Manplas. The two businesses operate in the same market, both
provide product protection solutions designing high quality,
custom-made, vacuum-formed components to protect a wide range of
customer products. The combination of the two businesses has
created multiple operational synergies. The integration was
completed successfully and the two teams are now combining well to
provide a wider offer to their shared client base. Currently the
business is installing a new sheet extruder which is expected to be
operational during the second half of this financial year.
Film & Foil Solutions
This business, a market leading converter and stockist of
flexible packaging film, print lamination film and speciality
plastics, paper and aluminium foils has exceeded the Boards
expectations during the first half of the financial year in terms
of gross margin. Film & Foil had a number of contracts which
due to customers increasing their in-house capabilities had become
very low margin. The decision was taken to cease servicing these
contracts which released some fixed cost and substantially improved
gross margin for the business as a whole. Revenues reduced in the
period but the future focus is on re-building the revenue line
whilst maintaining the current gross margin.
Alma Products
This business, a niche specialist and expert in extrusion,
thermoforming and container printing serving the food industry,
providing formable plastic sheet for Form-Fill-Seal applications,
thermoformed and printed plastic food packaging. This business is
very well invested in state-of-the-art sheet extrusion, volume
vacuum forming and one of the most advanced computer-controlled
printing facilities in the industry. Trading in the period was
impacted by the loss of a major contract, however, the pipeline for
new business is encouraging and the business enters the second half
in a good position.
Ecodeck and Ecotatou Spain
Ecodeck is a natural strategic fit for the group. The versatile
plastic grids Ecodeck sells, offer natural synergy with some of
Coral's existing products, including manufacturing synergies. There
is also potential to leverage Ecodeck's ecommerce platform for
other group eco-friendly products. During the first six months,
Ecodeck performed well and is well placed to complete a successful
year.
The acquisition of Ecotatou SL earlier this year, gives the
Group a foothold in Spain for the sale and distribution of Ecodeck
grids.
Capital Expenditure
The recently commissioned injection moulding facility is
expected to improve our second half performance. Further currently
being commissioned extruders at Manplas/CPL and Tatra Rotalac
should come on stream during the final quarter of our current
financial year.
Total capital expenditure in the first 6 months totals
GBP544,000 (2022: GBP854,000) all related to new product
opportunities.
Dividends
The board have declared an interim dividend of 0.50 pence per
share (2022: 0.50p). The ex-dividend date and the record date for
the interim dividend are 1 February 2024 and 2 February 2024
respectively. The interim dividend will be paid on 29 February
2024. This continues to reflect our confidence in the positive
performance and profitable results of the Group.
Outlook
We are mindful of the macroeconomic and geopolitical risks yet
remain confident about the current prospects for our business and
its ability to continue its successful evolution. Our continued
investment over many years in our people and our systems has
generated strong and resilient results in the first half of this
year and we believe will continue to do so.
Our continuing priority is to do all we can to keep our
workplaces as safe as possible for staff. We have planned our
business to be flexible, in all areas, to meet fluctuating levels
of demand. We have robust financial controls that will ensure we
maintain our working capital requirements whilst meeting all our
agreed parameters with our financial partners and due to contracts
already negotiated all operations will remain relatively unaffected
by the current turmoil in energy prices.
The Group continues with its strategic progress of increasing
focus on value-added and innovative products. Our aim is to build a
significant specialist plastics business with a bias towards using
recycled materials.
We have enjoyed a strong start to our current financial year,
and we look forward to a satisfactory outturn for the year given
the prevailing conditions.
Joe Grimmond
Executive Chairman
11 December 2023
CONSOLIDATED INCOME STATEMENT
Six months Six months
to to Year to
31 October 31 October 30 April
2023 2022 2023
(unaudited) (unaudited) (audited)
GBP000 GBP000 GBP000
Note
Revenue 3 17,177 17,587 35,216
Cost of sales (11,203) (12,828) (24,740)
--------------- --------------- -------------
Gross profit 5,974 4,759 10,476
Operating costs
Distribution expenses (744) (443) (1,301)
Administrative expenses before
separately disclosed items (3,533) (2,940) (6,462)
--------------- --------------- -------------
Underlying operating profit 1,697 1,376 2,713
Separately disclosed items:
---------------
Share based payment credit/(charge) (18) (11) (36)
Amortisation of intangible
assets (268) (163) (513)
Reorganisation costs (95) (49) (123)
Acquisition costs - - (331)
(381) (223) (1,003)
Operating profit/(loss) 1,316 1,153 1,710
Finance expense (480) (259) (458)
--------------- --------------- -------------
Profit/(loss) before taxation 836 894 1,252
Note
Taxation 4 (84) (89) 6
--------------- --------------- -------------
Total comprehensive income/(loss) 752 805 1,258
--------------- --------------- -------------
Earnings per ordinary share Note
5
Basic and diluted (pence) 0.84 0.92 1.44
Underlying basic (pence) 1.27 1.17 2.60
--------------- --------------- -------------
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
31 October 31 October 30 April
2023 2022 2023
(unaudited) (unaudited) (audited)
GBP000 GBP000 GBP000
Non-current assets
Goodwill 4,402 7,506 4,385
Other intangible assets 2,689 752 2,956
Property, plant and equipment 7,162 7,144 7,209
Right of use assets 2,476 1,960 2,870
Total non-current assets 16,729 17,362 17,420
-------------- -------------- ------------
Current assets
Inventories 4,702 5,570 4,320
Trade and other receivables 7,220 8,662 7,193
Cash and cash equivalents 2,927 3,820 4,774
Assets held for sale 740 - 200
Total current assets 15,589 18,052 16,487
-------------- -------------- ------------
Current liabilities
Bank overdrafts and borrowings (5,710) (6,338) (6,063)
Trade and other payables (4,872) (9,875) (7,218)
Lease liabilities (632) (709) (970)
Total current liabilities (11,214) (16,922) (14,251)
-------------- -------------- ------------
Net current assets 4,375 1,130 2,236
Non-current liabilities
Borrowings (3,865) (1,139) (3,263)
Lease liabilities (1,751) (1,757) (1,505)
Deferred taxation (1,040) (715) (1,040)
-------------- -------------- ------------
Total non-current liabilities (6,656) (3,611) (5,808)
-------------- -------------- ------------
Total net assets 14,448 14,881 13,848
-------------- -------------- ------------
Shareholders' Equity
Share capital 903 903 903
Share premium - 6,272 -
Investment in Own shares (170) - -
Other reserves - 2,050 -
Retained earnings 13,715 5,656 12,945
-------------- -------------- ------------
Total equity 14,448 14,881 13,848
-------------- -------------- ------------
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY
Share Share Treasury Other Retained Total
capital premium shares reserves earnings equity
GBP000 GBP000 GBP000 GBP000 GBP000 GBP000
At 1 May 2023 903 - - - 12,945 13,848
Total comprehensive income - - - - 752 752
Credit for share based
payment - - - - 18 18
Purchase of treasury
shares - - (170) - - (170)
At 31 October 2023 903 - (170) - 13,715 14,448
--------- --------- --------- ---------- ---------- --------
For the six months to 31 October 2022 (unaudited)
Share Share Treasury Other Retained Total
capital premium shares reserves earnings equity
GBP000 GBP000 GBP000 GBP000 GBP000 GBP000
At 1 May 2022 859 5,621 (1,008) 1,061 5,174 11,707
Total comprehensive
income - - - - 805 805
Charge for share based
payment - - - - 11 11
Issue of treasury shares - - 1,008 136 - 1,144
Revaluation reserve - - - 853 - 853
Share issue 44 650 - - - 694
Dividend paid - - - - (344) (344)
At 31 October 2022 903 6,272 - 2,050 5,656 14,881
--------- --------- --------- ---------- ---------- --------
For the year ended 30 April 2023 (audited)
Share Share Treasury Other Retained Total
capital premium shares reserves earnings equity
GBP000 GBP000 GBP000 GBP000 GBP000 GBP000
At 1 May 2022 859 5,621 (1,008) 1,061 5,174 11,707
Total comprehensive profit - - - - 1,258 1,258
Credit for share based
payment - - - - 36 36
Share issue 44 650 - - - 694
Cancellation of share
premium acc - (6,271) (111) (1,061) 7,443 -
Issue of treasury shares - - 1,119 - - 1,119
Dividend paid - - - - (966) (966)
At 30 April 2023 903 - - - 12,945 13,848
--------- --------- --------- ---------- ---------- --------
CONSOLIDATED STATEMENT OF CASH FLOWS
Six months Six months Year
to to to
31 October 31 October 30 April
2023 2022 2023
(unaudited) (unaudited) (audited)
GBP000 GBP000 GBP000
Cash flow from operating activities
Profit for the period after tax 752 805 1,258
Adjustments for:
Depreciation of property, plant
and equipment 296 268 464
Depreciation of right of use assets
under IFRS16 333 236 705
Amortisation of intangible assets 268 163 513
Share based payment (credit)/charge 18 11 36
Profit on disposal of building 10 - -
Loss on disposal of fixed asset 17 37 -
Interest payable 480 259 458
Taxation charge/(credit) 84 89 (6)
(Increase)/decrease in inventories (382) (182) 1,219
Decrease/(increase) in trade and
other receivables 473 1,025 999
(Decrease)/increase in trade and
other payables (2,097) (5,916) (6,769)
Net cash generated from operating
activities 252 (3,205) (1,123)
-------------- -------------- ------------
Cash flow from investing activities
Acquisition of subsidiaries, net
of cash in bank (16) (3,852) (4,313)
Proceeds from disposal of property,
plant and equipment 225 - -
Acquisition of subsidiaries, payment
of earn-out (1,275) - -
Acquisition of property, plant and
equipment (544) (854) (2,080)
Net cash (used in)/generated from
investing activities (1,610) (4,706) (6,393)
-------------- -------------- ------------
Cash flow from financing activities
Interest paid on bank borrowings
and invoice discounting (370) (259) (363)
Interest paid on lease liabilities (111) - (95)
Dividends paid - (334) (966)
Repayments of obligations under
lease liabilities (505) (136) (867)
Repayments of bank borrowings (153) - (814)
Purchase of treasury shares (170) - -
New bank loans raised 1,442 - 3,496
New lease liabilities 29 - -
Movements on invoice discounting
facility (651) 4,871 4,310
Net cash used in financing activities (489) 4,142 4,701
-------------- -------------- ------------
Net (decrease)/increase in cash
and cash equivalents (1,847) (3,769) (2,815)
Cash and cash equivalents at the
start of the period 4,774 7,589 7,589
-------------- -------------- ------------
Cash and cash equivalents at the
end of the period 2,927 3,820 4,774
-------------- -------------- ------------
NOTES TO THE FINANCIAL STATEMENTS
----------------------------------
1. Basis of preparation
The financial information set out in this Interim Report does
not constitute statutory accounts as defined in Section 435 of the
Companies Act 2006. These interim financial statements are for the
six months ended 31 October 2023. They do not include all the
information required for full annual financial statements and
should be read in conjunction with the consolidated financial
statements of the Group for the year ended 30 April 2023. The
Interim Report has not been reviewed by our auditor in accordance
with the International Standard on Review Engagement 2410 issued by
the Auditing Practices Board. IAS 34 'Interim financial reporting'
is not applicable to these half year condensed consolidated
financial statements and has therefore not been applied.
2. Significant accounting policies
The accounting policies applied by the Group in these condensed
consolidated interim financial statements are the same as those
applied by the Group in its consolidated financial statements for
the year ended 30 April 2023.
3. Revenue
All production is based in the United Kingdom. The geographical
analysis of revenue is shown below:
Six months Six months
to to Year to
31 October 31 October 30 April
2023 2022 2023
(unaudited) (unaudited) (audited)
GBP000 GBP000 GBP000
United Kingdom 16,977 17,166 34,633
Rest of Europe 157 368 91
Rest of the World 43 53 492
17,177 17,587 35,216
-------------- -------------- ------------
Turnover by business activity
Sale and manufacture of plastic
products 17,177 17,587 35,216
-------------- -------------- ------------
A breakdown of Group revenues by product group is shown
below:
Six months Six months
to to Year to
31 October 31 October 30 April
2023 2022 2023
(unaudited) (unaudited) (audited)
GBP000 GBP000 GBP000
Rigids 10,558 8,008 18,284
Flexibles 6,619 9,579 16,932
17,177 17,587 35,216
-------------- -------------- ------------
4. Taxation
The taxation charge for the six months to 31 October 2023 is
based on the effective taxation rate, which is estimated will apply
to earnings for the year ending 30 April 2024. The rate used is
below the applicable UK corporation tax rate of 25% due to the
utilisation of tax losses in the period.
5. Earnings per share
Basic and underlying earnings per ordinary share are calculated
using the weighted average number of ordinary shares in issue
during the financial period of 89,556,580 (31 October 2022:
87,554,854 and 30 April 2023: 87,123,068).
Year to
Six months Six months
to to 30 April
31 October 31 October
2023 2022 2023
(unaudited) (unaudited) (audited)
GBP000 p GBP000 p GBP000 p
Basic and diluted earnings
per ordinary share
Profit/(loss) for the period
after tax 752 0.84 805 0.92 1,258 1.44
--------- ----- --------- ----- ------- -----
Underlying earnings per ordinary
share
Underlying profit/(loss) for
the period after tax 1,133 1.27 1,028 1.17 2,261 2.60
--------- ----- --------- ----- ------- -----
6. Movement in Net Debt
Net debt incorporates the Group's borrowings and bank overdrafts
less cash and cash equivalents. A reconciliation of the movement in
the net debt is shown below:
Six months Six months Year
to to to
31 October 31 October 30 April
2023 2022 2023
(unaudited) (unaudited) (audited)
GBP000 GBP000 GBP000
Net (decrease)/increase in cash
and cash equivalents (1,847) (3,769) (2,815)
Net increase in invoice discounting
facilities 651 (4,835) (4,310)
(Increase)/decrease in bank and
other loans (899) (1,253) (3,627)
(Increase)/decrease in lease liabilities 91 (1,143) (1,152)
Movement in net debt in the financial
period (2,004) (11,000) (11,904)
Net funds/(debt) at beginning of
period (7,027) 4,877 4,877
---------- -------------- ------------
Net funds/(debt) at end of period (9,031) (6,123) (7,027)
---------- -------------- ------------
7. Underlying profit and separately disclosed items
Underlying profit before tax, underlying earnings per share,
underlying operating profit, underlying earnings before interest,
tax, depreciation and amortisation are defined as being before
share based payment charges, amortisation of intangibles recognised
on acquisition, acquisition costs, reorganisation costs,
compensation for loss of office, impairment of goodwill and
impairment loss on trade receivables. Collectively these are
referred to as separately disclosed items. In the opinion of the
directors the disclosure of these transactions should be reported
separately for a better understanding of the underlying trading
performance of the Group.
Six months Six months Year
to to to
31 October 31 October 30 April
2023 2022 2023
(unaudited) (unaudited) (audited)
GBP000 GBP000 GBP000
Operating profit/(loss) 1,316 1,153 1,710
Separately disclosed items within administration
expenses
-------------------------------------------------------- -------------- ------------
Share based payment (credit)/charge 18 11 36
Amortisation of intangible assets 268 163 513
Reorganisation costs 95 49 123
Acquisition costs - - 331
Total separately disclosed items 381 223 1,003
-------------- -------------- ------------
Underlying operating profit 1,697 1,376 2,713
Depreciation 629 505 1,169
Underlying EBITDA 2,326 1,881 3,882
8. Business Combinations
In June 2023 the Group acquired 100% share capital of Ecotatou
SL in Spain for EUR18,000 satisfied in cash. This acquisition gives
the Group a foothold in Spain for the sale and distribution of
Ecodeck grids.
9. Company Information
Company contacts
Directors Joe Grimmond Executive Chairman
Sharon Tinsley Group Finance Director
Phil Allen Group Operations Director
Paul Freud Corporate Development Director
Ian Hillman Director
Steve Barber Non-Executive Director
David Low Non-Executive Director
Secretary Sharon Tinsley
Registered Office Southmoor Road, Wythenshawe, Manchester, M23 9DS, UK
Registered Number 02429784
Website www.coralproducts.com
Nominated Cavendish Capital Markets
Advisor Limited
& Broker One Bartholomew Close
London
EC1A 7BL
Auditors Crowe UK LLP Bankers Virgin Money
3(rd) Floor, The Lexicon 48-50 Market Street
Mount Street Manchester
Manchester M1 1PW
M2 5NT
Registrars Share Registrars Limited Solicitors Legal Clarity Lawyers
3 The Millennium Centre LLP
Crosby Way 55 Newhall Street
Farnham, Surrey Birmingham
GU9 7XX B3 3RB
------------ ---------------------------- ----------- ----------------------
Trading subsidiaries
Company Business activity Registered office
---------------------- ----------------------------------- ------------------------------
Tatra Rotalac Limited Manufacture of plastic mouldings Southmoor Road, Wythenshawe,
and extrusions Manchester, M23 9DS
Global One-Pak Design, packaging and distribution Hyde Park House, Cartwright
Limited of lotion pumps, trigger Street, Newton, Hyde,
sprays and aerosol caps Cheshire, SK14 4EH
Customised Packaging Manufacture of thermoformed Unit 2-4 Denton Business
Limited mouldings and extrusions Park, Windmill Lane,
Manchester, M34 3SP
Film & Foil Solutions Converter of flexible packaging, North Florida Road,
Limited print lamination film and Haydock Industrial
speciality plastic, paper Estate, St Helens,
and aluminium foils WA11 9UB
Alma Products Limited Extrusion, thermoforming Unit 18B, Daresbury
and container printing Court, Evenwood Close,
Runcorn, Cheshire,
WA7 1LZ
Manplas Limited Vacuum-formed components Coldfield Drive, Wythenshawe,
and sheet plastic parts Manchester, M23 9GG
Ecodeck Limited Eco-friendly driveway grids, 123 Saltergate, Chesterfield,
plastic shed bases and grass Derbyshire, S40 1NH
grid reinforcement
Ecotatou SL Distribution of Eco-friendly Carretera Tortosa-1@Aldea
driveway grids km 2
43500 Tortosa (Tarragona)
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(END) Dow Jones Newswires
December 11, 2023 02:00 ET (07:00 GMT)
Coral Products (LSE:CRU)
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From Mar 2024 to Apr 2024
Coral Products (LSE:CRU)
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From Apr 2023 to Apr 2024
