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(Alliance News) - Coral Products PLC on Monday completed the sale of its freehold premises in Merseyside to Glenbrook CP Ltd for GBP3.5 million.
Coral shares were up 4.6% to 15.16 pence each in London on Monday morning.
The Manchester-based manufacturer and distributor of plastic injection products said the proceeds will be used to support organic growth, for possible acquisitions in the future, and to "reward shareholders for their long term support".
The profit on the sale will be about GBP900,000. This will be accounted for in Coral's full-year results to April 30, 2022. Last year, the company posted a pretax loss of GBP316,000.
The premises are located at North Florida Road, Haydock in Merseyside.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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