Coral Products Share Discussion Threads

[clocktower] 21/9/2021 15:45

Bargain time at the moment then charo. If your correct.

Good Luck and Good Trading.

[charo] 21/9/2021 13:38

Think JG with group cash of circa £8 million might beat you to it.
10% would cost around 10% of cash and make bulletproof.

[clocktower] 21/9/2021 12:11

A little non-reg RNS to say the roof and all repairs have been completed on Haydock buildings, and the company is looking forward to the completion of the sale.

Is all that would have been needed if the accounts were not being rolled out until 7/8th Oct or even by now.

I think one of the larger holders maybe jumping ship as this has very poor growth prospects imo and as the companies value is below what most funds will carry - stock maybe being dumped much like when Minton were selling down their holding last year. Just a hunch but DYOR.

If that is the case the shares might be going for a song before very long and might well go below my target price.

[temelco] 21/9/2021 10:39

So latest practicable date for AGM is 29th October, 21 days before is 8th ( probably 7th in practical terms) So roll on 7/8th October!

[base7] 21/9/2021 08:02

There may well be supply chain issues,together with increasing cost of sales & we may be affected by labour shortages together with pressure on sales.The accounts to 30/4/21 will have been finalised internally by end May/June at the latest & Auditors are under much less pressure now than they were 12 months ago & with only 3 UK based trading subsidiaries there are no viable reasons why Results werent published weeks ago & IF the Auditors are stalling we should change ASAP.
JG could "comfort" The Market by publishing the Results ASAP & if there is bad news it would be best in the open, in the interests of proper disclosure & corporate governance.Perhaps he is waiting for completion on Haydock but if it is pending imminently why not advise The Market ,as I assume that the new roof has long been installed & we now need to know how the roof on our business is looking.

[clocktower] 20/9/2021 16:06

Still charo, it seems to me they like to go down to the wire when it suits. However, do you think there is a chance that something has leaked out, as I guess the accounts must have been made up by now, and they are just awaiting boardroom signing off surely.

Dropping share price suggests to me that it is just possible that this has has occurred, as if numbers are really to be outstanding, we often see this reflected in the share price from many shares that are listed and even more so from AIM ones before official publication.

To be fair this in my view has not been the case in the past with CRU, the way JG has run the ship from that point of view has to be admired. Still there is always a first time that some weasel spills the beans or take advantage of knowledge, against the law or otherwise.

[charo] 20/9/2021 15:24

Last years results were delayed because all auditor firms requested further time to produce accounts.Indeed a temporary change to the companies act was introduced by parliament .This has only just lapsed.The same temporary delay was made to aim rules as regarded accounts timetables.
The rule requiring disclosure was not extended and markets have to be informed of any material change in circumstances without delay.
Coral has no leeway this year and must hold agm in october having given 21 days clear notice.

[charo] 20/9/2021 14:40

The company is clearly in a close period with prelims imminent and AGM before end of October.
In an RNS 1ST JUNE company forecast profit before tax of circa 3million pound,cash around 3.8 million pounds and a proposed final dividend of 0.5p making 1p for year.
They also said the sale of the already contracted property for 3.5 million would complete in the second half adding further 3.5 million to cash and releasing on my calculation around 1 million profit to distributable reserves.I read this as the current years dividend is in the bag.
JG and WHI are well versed in the rules and if any thing in the 1st june RNS was in any material way at odds with results they would have had to make announcements.
I have reviewed the RNS the aim rules and reviewed all releases this year.
roll on prelims.

[charo] 20/9/2021 13:09

I really find it hard to read anything negative in the company's statement.
Bet "the old fart" will delight when non delayed results are published.

[hatfullofsky] 17/9/2021 12:11

OMG Clocktower, I like looking for negatives but you have a very strange approach. Your historical view is clouding your future view.This is fantastic news "We will need to increase our capacity as near full" he's telling us he's maxed out and will need to expand."If all goes well" Any product in development has challenges. He seems to be straightforward and aware of the risks, rather than aim rampy CEO.Finally to my knowledge (and I will not check further) ZTF make foam based products not extrudable ones.This will fall on deaf ears but hopefully other on the board will see the positives from this statement.

[valuschmalu] 11/9/2021 08:06

Given the past history with this company, I'm concerned something negative comes out at the results and I don't like the delay in publishing. Whether that's the outlook eg supply issues, unable to pass on resin price increases, issue with property sale or something else I've unfortunately learned to expect the unexpected!

But the bigger issue is the medium term outlook. To get the share price past 20p, the company needs to demonstrate that it can consistently deliver 2p+ EPS and a 1p divided. There was a time a few years back when it looked like they could do that but we know what happened next and the share price sunk.

IMHO, they need to make a big (but sensible) acquisition. Until the results come out, I'm not going to speculate on what the cash position is but I think it should be possible to make a big acquisition to get us to 2p+ consistent EPS with a small amount of leverage (1x EBITDA). That would be game changing rather than these incremental smaller add-ons which have been hit and miss in the past. Clearly the risk is that they buy the wrong company but I'm hoping they have learned lessons and can spot a solid opportunity.

[base7] 10/9/2021 23:41

Rent was only likely to be a temporary phenomenon as we aren't a property company & selling the Freehold with a strong covenant was a great deal for shareholders as the cash value of our holdings is around 75% of our current share price
My view is that JG will either make further bolt on ,earnings accretive acquisitions with cash (& some shares to motivate vendors)& resume share buy backs & increase dividends,assuming our trading subsidiaries remain positive -or ,he will aim to exit by finding a substantial private company to reverse into us -either way,& asssuming that our profitability remains intact,we should benefit.I have not bought since we were in the mire but am tempted to increase again ahead of results with view to our share price weakness

[charo] 10/9/2021 20:51

Whilst the cash is good it comes with the loss of £300k per annum rent.The income from £3.5 million in bank I around £35k.
The cash needs to be reinvested sharply.

[hatfullofsky] 10/9/2021 12:40

"£3.5m Sale of Property to complete H2" was the statement

Would be great news to release with the results

"The results include two months contribution from the successful integration of Customised Packaging Ltd acquired 2 March 2021"(COVID impacted sales to 31/12/20 £2.3m)

I've been hovering over the buy button for a while and topped up today (the 55k is mine)

[base7] 09/9/2021 15:38

Finals should be published shortly & it will be interesting to see whether our outlook statement remains as positive as it appeared to be following our year end trading update & presumably we are now close to completion in respect of our property sale.If our FY22 forecasts remain on target( despite well publicised transportation issues across industry,firming commodity prices & therefore raw material prices & the increased 1.25% Employers NI costs ( from April 2022) & our share price remains weak I would have thought JG would resume the buying back of more of our shares ( unless he has any further bolt on acquisitions lined up ) as our bank balance should comfortable exceed £7mill ( ie 8-9p per share).

[clocktower] 07/9/2021 16:02

With pensioners having to pay NI - as I believe someone said JG was well over pension age, I guess CRU will have to pay his share now.

[charo] 25/8/2021 16:35

Guess JG will continue to outhink his numerous critics,ignoring their ill informed comments ,make money create wealth and generally go about his business as he has done throughout his long career.

[temelco] 25/8/2021 13:44

Well according to my very rough calculation tomorrow is the earliest any kind of announcement could be made, bearing in mind JG's purchase of stock last month. I would say there's every chance there will be something to talk about soon.
But there may not be....

[base7] 12/8/2021 15:22

No need for an update if we are trading in accordance with expectations ( +/- 10%).
I suspect results will be announced when they are usually published, unlress another acquisition arises whereby JG is obligated to publish numbers, in the event of a share issue