Coral Products PLC - Merseyside-based supplier of injection moulded plastic products - Pays the vendors of its subsidiary Customised Packaging Ltd an earn-out consideration of GBP31,671.
Says that the earn-out consideration was dependent on Customised Packaging Ltd generating a pretax profit in excess of GBP250,000 for the year 2021.
Explains that the company did so, leading to Coral Products making a payment of 30% of the profit generated in the year.
"We're delighted with the performance of Customised Packaging to date. Customised Packaging has integrated well into the existing group and we look forward to continuing improvement," Executive Chair Joe Grimmond comments.
Current stock price: 15.40 pence, up 6.1% on Monday
Year-to-date change: up 43%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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Coral Products (CRU)