Last checked at 6 Feb 2009 11:42
6 February 2009
CORAL PRODUCTS PLC
INTERIM MANAGEMENT STATEMENT
Coral Products PLC today publishes its interim management statement for the period from 1 November 2008 to date.
Since publishing our Interim Report on 9 December 2008 trading initially improved but has since been affected by a fall in sales of media products, due largely to the global economic situation. The widely reported administrations at prominent media retailers affected us by limiting orders at a seasonally busy time.
On a more positive note we have seen margins improve somewhat as raw material and power costs have decreased. We are also still on target to introduce other non-media products during March and our feedback from new markets remains positive. Furthermore these markets offer other related products for which we envisage good long-term prospects. The benefit of these projects will not be seen, however, until some way into our next financial year.
We continue to operate within our banking facilities and maintain tight control on our working capital.
Trading losses for the year to 30 April 2009 are expected to be slightly below those for the previous year.
For further information call:
Warren Ferster
Chief Executive
Coral Products PLC
01942 272882
Website: www.coralproducts.com