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26 Mar 2019 | 14:42

Coral Products warns of significant annual profit miss

Plastic product supplier Coral Products warned that its annual results would be significantly below market expectations.

The company said a number of factors had hurt its performance, including a downturn in business generated from the automotive industry and significant delays in delivery of totes ordered from a major online retailer.

In the six months through October, Coral Products reported a pre-tax profit of £582k, but this was followed by a loss in the four months to 28 February.

'As a result, the board therefore now expects the group's results for the year ending 30 April 2019 to be materially below both management and market expectations,' the company said.

At 2:42pm: (LON:CRU) Coral Products PLC share price was -5.65p at 6.6p

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