Coral Products Share Discussion Threads

[temelco] 14/8/2015 07:54

Well in rough terms that puts market cap over £10m which is a distinct milestone. Roll on growth.

[playful] 14/8/2015 07:07

looks to be a reasonable placing and not one to upset our apple cart

[russman] 10/8/2015 05:55

The dividend policy is not clear to me.
2013 1.08 eps 0.50 div
2014 - 2.20 restated 0.50 div
2015 0.35 eps 0.70 div
I think it is prudent to accrue the final div (but only £300k, well net profit was £200k)

[topvest] 09/8/2015 19:25

They must be quite confident on working capital as they raised the dividend. If the cash position was tight I would have expected a 0.5p total dividend. They clearly don't need any late payers though! A fundraising may be on the cards as well, for a further deal at some point.

[russman] 09/8/2015 10:01

Read the RNS Prelims headlines again.
The figure that stands out is 2.12p underlying EPS.
Do you think they have access to enough cash to fund working capital - new orders, new deals, divis? Please Mr Chairman.
It takes on average 47 days to pay a bill better than 60+ last year.
Do you think clean EPS 2016 will be higher than 2.12p?

[topvest] 08/8/2015 09:49

Yes, may be missing something but the potential is clearly there.

[temelco] 08/8/2015 09:29

Makes my £2m in a full year look tame....

[topvest] 08/8/2015 08:57

I've had a look through the accounts. Couldn't see anything that unduly concerned me other than comments about overseas sales being very difficult.

Joe Grimmond is taking virtually no salary which is commendable in this day and age.

Shares have gone XD now so expect the share price to drift a little. My turnover expectations for 2016 are:

Food £7m in 2015 - say £8m in 2016
Trade £6m in 2015 - say £8m in 2016 with the online business, new assets and Tatra
Media £3m in 2015 - say £1m in 2016
Waste £1m in 2015 - say £2m in 2016

So £19m looks fairly comfortable at 30% GM = £6M ish
Less £3-4m Admin costs
PBT of £2-3m possible.
Interesting! Assumes no more own goals which is a BIG ASK with their track record.
Anyone seen a broker forecast?

[foxman14] 07/8/2015 23:56

Hi Russman care to expand on what we shouldn't get carried away with.

[russman] 06/8/2015 12:05

I read the Annual Report notes. I would not get carried away.

[clocktower] 05/8/2015 12:15

Seeing the volumes of sells, it may well drop a fair bit after it goes ex-dividend and during the summer holiday slump drift topvest. Still, great long term hold.

[topvest] 30/7/2015 18:55

At least I still have an indirect holding through Rights & Issues Inv Trust. Will keep watching for now, but well done to management here.

[clocktower] 30/7/2015 14:39

topvest, a profit is a profit but I am in for the long term again so not concerned about the fall back but you may see it drift even further before and after the dividend date. So plenty of time to pick them off on quite days, that is if you can get them before the likes of me tops up when we feel the price has settled to a support low.

Good Luck.

[topvest] 29/7/2015 20:34

Yes, well done to those that held. Things have improved that is for sure. Just my luck to have sold out just before things improve. Only critiscism of the results is the avoidance of comment on the bad news; the bad debt and the £400k spent on the former directors which should really have been announced previously, even though you could virtually work it out from their 12 month contract terms.
Oh well at least I got out at a profit a few months back which wasn't bad for an accident prone company. May look to re-enter now at the right price.

[clocktower] 29/7/2015 13:47

The skeletons must be the media related stock/tooling/equipment etc. amongst other unidentified objects I guess. Still hopefully a few that post on the thread will be able to go to the AGM and inform us how rosy everything now is. 2016 will be the exciting one with all the new streams of business coming on-line.

[russman] 29/7/2015 12:30

I will rename disclosed later as burying some skeletons in the closet.
Just state what the expenses are.
Exceptions appear to be a recurring theme.

[clocktower] 29/7/2015 11:25

While the dividend will be paid out of the next half, if you took this as a liability - it would be a small loss. Still it will take almost £300k from the next figures, which hopeful will not suffer any serious trade loss. Imagine though if the on-line company that ordered £2m worth of units failed.

"This dividend equates to £289,308 and has not been included as a liability at 30 April 2015."

Still the trend is very positive but I think it will take another six/twelve months to really motor.

[valhamos] 29/7/2015 10:19

Russman

It's disclosed in note 2

[russman] 29/7/2015 09:58

Could someone please tell me what the £1m disclosed elsewhere charge is for?
Is it goodwill?

[clocktower] 29/7/2015 08:29

On paper The Small Dividends Trust Company that made the recent investment has made a very substantial profit in little over one month. I wonder if they will take some profit but ensure they will not drop their stake below the 7% mark, to avoid the need for a RNS.

[clocktower] 29/7/2015 07:56

Better than expected - well done this should really set the pace and it now becomes clear why the company were able to raise the fresh funds at 13.25p a short time ago. The prospects are once again outstanding imo. DYOR.

[playful] 29/7/2015 07:32

Excellent results....

Well done Joe and all the team at coral!

[clocktower] 08/7/2015 15:37

Todays RNS is a huge jump in their holding, as the stock moves up slightly now I expect we will see a squeeze and a big jump on the next bit of good news. I expect they are in it for the long term with a holding of that size in CRU.

That is the 1.75m shares when fund raising that was done, all to this investment fund.

[topvest] 02/7/2015 20:22

Well done all. I will await the results and reassess.