Coral Products (AIM:CRU) - Interims show significant improvement
AimZine microcap comment
Plastics specialist, Coral Products, released its Interim results this morning reporting improved profits and dividend. The Group anticipates further improvement in the second half of the year. Investors will be particularly pleased to hear that work on the contract with a leading online national retailer has finally commenced.
Interim Results Coral Products (AIM: CRU) issued its Interim results for the six months to 31 October 2015 this morning (2nd December). Whilst sales were down 8.9% to £8.26 million, pre-tax profit was up 136% to £684,000. The Group is proposing to pay an interim dividend of 0.3 pence which is 50% higher than last year’s interim payment. Coral’s share are up 20% today at 24 pence valuing the Group at approximately £15 million. A key point in the results statement was that non-media sales had risen to make up 85% of Coral’s revenue. Up until 2011 the majority of…