Coral Products Share Discussion Threads

[temelco] 25/3/2021 07:41

Big order for the company you mean CT. I really like that - straight from the Warren Buffett playbook

[temelco] 25/3/2021 07:35

Big order for the company you mean CT. I really like that - straight from the Warren Buffett playbook

[clocktower] 24/3/2021 10:23

Big order being filled it would seem as one can only guess deadly has been one to jump ship today. Good Luck finding a better investment.

[deadly] 23/3/2021 19:21

Clocktower, don't know what you are talking about or where you get the impression that:

.".you stick to companies that have never made anything other than a loss since they have come to market. Many just being lifestyle companies that directors milk along with their city buddies. :-)"

There are plenty of companies that are very profitable, offer great value and whose share price increases to reflect their value. I'm invested here but won't wait much longer using dead money, life's too short.

[clocktower] 23/3/2021 16:26

I would not call that an update, it still contains out of date matter charo. It needs a fresh designer and current info to be correct in all areas.

[charo] 23/3/2021 16:16

Web site was recently updated .

[clocktower] 23/3/2021 10:54

Coral could do with a fresh website and also make sure the details (shareholder) are up to date as well, as it looks very 20 years old style.

Also and more importantly, the rise in the offer this morning suggests to me than a MM has a larger order to fill - as the small buy of 10k would not have changed the MM offer to 11p.

[mach100] 20/3/2021 10:37

I am very happy too to get Steve Barber on board as it lessens the chances of us investors having to take a haircut in the process of divesting old businesses as often happens.

[clocktower] 19/3/2021 08:04

Unfortunately temelco, I once did the latter and almost lost the lot but I learned a useful lesson and even though I have been through the wringer due to others fraudulent behaviour and asset stripped by an ex-wife,by taking the slower route and putting some of my remaining eggs in the likes of Coral at the right time, I am in a very good place and looking forward to the increasing rewards that this strategy has served up.

Sticking with JG has been rewarding.

[valuschmalu] 18/3/2021 19:55

I dont remember the original holding notice for Lombard as well (was it forgotten by the company?). I had been wondering whether we were due a shareholding RNS given the amounts that Miton has been selling.

Wonder how close JG is to appointing a CEO and whether it will be John Wright or someone from the other 2 group companies? I like the fact that with Steve Barber on board, the directors own a meaningful stake of the company. Proper alignment of interests

[temelco] 18/3/2021 12:17

Well said CT. Get rich slow is much better than get rich quick and lose it

[clocktower] 18/3/2021 12:12

Nice to see new faces posting on the thread - welcome all.

While there are many exploding stocks there are stocks that offer a safe long term home, and one would not want to have all ones eggs in volatile junk stocks that are purely traders bread and butter. Maybe if this is, in your opinion deadly, such a duff stock you stick to companies that have never made anything other than a loss since they have come to market. Many just being lifestyle companies that directors milk along with their city buddies. :-)

[deadly] 18/3/2021 11:45

...and they have been stuck with it. Jam tomorrow is all very well but when? In the meantime other stocks are making hay.

[clocktower] 18/3/2021 10:18

scotch broth - many of the posters on this thread have happily been "stuck" with this stock for some time, and in view of the likely rewards and dividends that are expected, will I am sure be delighted to be stuck with CRU stock for some time to come.

Are you looking for undervalued stocks, then buying this at under 15p makes it a remarkable purchase imo? DYOR.

[scotch broth] 18/3/2021 09:23

On Tuesday online dealing size 10000, on Wednesday 100000.Be aware you might get stuck with these on a bad day.

[clocktower] 17/3/2021 13:34

He may not even have a non compete clause base7, as it was not the main business that they purchased.

[base7] 17/3/2021 13:03

Interesting that Steve Barber decided to semi retire upon the takeover of Interpack ,that he has joined Cru as non exec (I am sure he has a non compete clause but will be very well connected ) & he has retained all 2mill shares which he received when we acquired Interpack ,the 3 founders each then receiving 2mill shares each .Not bad semi retirement income glow for him of a ,day 5% dividend together with upside from capital growth & salary as non exec

[clocktower] 17/3/2021 08:03

Yesterdays late RNS - I cannot recall Lombard being on the list of major holders before but they has 6.24% and I assume this RNS is due to the new shares that were introduced with the recent purchase.

Also a new NED today that holds a good number of shares already.

[temelco] 11/3/2021 14:12

So I'm only asking as the saying goes. Why did they pay off any of the Gov backed loan? Any why leaving some of it?

[aleman] 10/3/2021 16:17

They gave us a balance sheet on Dec 24th based on Oct 31st 2020 unaudited interim figures that show the changes. That's where I got my balance sheet debt and cash figures from in my earlier post. Group goodwill (before the acquisition) fell to £1.595m and cash rose to £8.833m. Payables fell to £775k.

[clocktower] 10/3/2021 15:14

Thank you for your figures Aleman but when we see the actual figures we will be able to assess the exact numbers, and once all other costs are taken out including relocation, and possible golden handshakes etc.

Still moving on.

Just a few points for discussion - now that Coral Mouldings has been sold, what remains of the Goodwill value in your opinion?

As of October 2020 - Goodwill stood at £5,145,000.00

Cash and cash equivalents £1,292,000.00 and the business was profitable again.

Also, what do you think the numbers are that remain for Trade and other payables?

Trade and other payables stood at £3,212,000.00 as of October 2020.

On Sale on Coral mouldings:

"The estimated initial net cash consideration of GBP7.9 million is payable on completion and is subject to an adjustment following the preparation of completion accounts and adjusting for certain liabilities"

[aleman] 10/3/2021 13:40

So I should have summarised my last post as £6m+ cash plus £3m+ from the property sale, plus some ongoing trading-generated cash since, takes the total to possibly £10m+ cash, meaning the trading companies that look to be generating a pretax of perhaps £1.5m+ seem to be thrown in for free or even at a slightly negative figure. There is uncertaintly in this but it would seem to make more sense for the market cap to be £20m than £10m. Of course, when the shares have been lower than the current price for a year, you will always get some drag in any rerating.

[zoolook] 10/3/2021 13:15

Be useful to disclose budgeted cost of roof repair. Can be expensive if asbestos is involved

[aleman] 10/3/2021 12:47

How do you get less than £6m? 8 days ago, the company reported it had around £8m of NET cash - not gross. Closing out the mortgage and CBIL loan does not affect the net position as loss of cash is matched by loss of loan. Knock off the acquisition and roof from that and you should stil have well over £6m.

On 24th of Dec, gross cash was £8.8m plus reverse CBIL liability topping it to £9.3m. Mortgage was £1.7m and other loans £0.8m. Net cash then was therefore £6.8m. £900k paid for the acquisition takes it to £5.9m but there has been 3 months of profitable cash generations since so net cash should be back above £6m. (I assume lease liabilities are met from revenues and leave a profit, though it might be lumpy. Payables and receivables might also swing it slightly.)

[clocktower] 10/3/2021 11:47

Sorry to correct you Aleman but there will not be £6 million remaining - Cash was used to purchase CPL, and to put a new roof on Haydock. Still, a considerable amount must still be in the kitty, and the cash grows every day because all three companies are profitable.