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20 May 2019 | 07:13

Coral Products says full-year results won't be as bad as feared

Coral Products said results for the full year would not be as bad as previously anticipated following March and April's performance. 'With the benefit of March and April's actual results together with urgent management action we are pleased to report that the variance from market expectation, while still material, will not be as significant as previously expected,' the company said. In March, the company said it expected the results for the year to be 'materially below market expectations. ' During the year, the company developed a number of new products all of which would be introduced into production and sales during the current financial year.  For the full-year ended 30 April 2019, the company expected a marked improvement over the previous year's results, with sales, operating profit, earnings (EBITDA) and gross margins much improved. 'Overall debt slightly increased as we continued to invest in new products, processes, plant and people, to ensure we have the resources to meet what we believe will be increased market demand,' the company said.

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