Coral Products Share Discussion Threads

[charo] 15/6/2018 17:44

As I read it 50% of debt is invoice discounting and well within normal band of 80% debtors .25% mortgage over 9 years at 50% of freehold value and asset financing over 3/5 years for remainder.The real test is interest cover and cash cover on capital repayments and if as company expects they stop losses in second half suggesting a return to profit in current year and with heavy depreciation the business can expect return to ebitda of 3.5/4 million in 2018/9 debt cover strong interest cover 7 to 8 and return to dividend almost certain,Ideas about selling subs make no sense .If they didn't tell market about a significant order which must mean increase in gross contribution they could be accused of misleading shareholders who sell without knowing,now if they sell their choice.

[valuschmalu] 14/6/2018 22:17

Meaningless RNS-they shouldnt bother with issuing these unless they are game changing (recent appointment of MD at Coral Mouldings Ltd was more important so surprised they didnt bundle that in this RNS). I'm more concerned that there are no surprises with FY results. Given how long it took them to spot issues last time, not taking anything for granted.

Really need to see reduction in net debt to more reasonable levels so cant see dividend being paid for a while. Personally I would rather they did a (re) sale and leaseback rather than tap shareholders for more cash. Alternatively they could flog one of the subsidiaries (at a profit ideally!)

[topvest] 14/6/2018 20:05

Trouble with this. More sales, but at what margin and will it actually be profitable?

[fozzie] 14/6/2018 17:06

Thanks CT. I am hoping for some good news here in fairly short order though disappointed no real flesh on the bones so to speak with this mornings rns.

[clocktower] 14/6/2018 16:25

Welcome back to the thread fozzie.

[fozzie] 14/6/2018 16:13

Positive rns equals no share price movement at all? We need some current sales figures or some tangible accretive news to get back this share price moving. I have a truck full now, come on Coral!

[clocktower] 14/6/2018 07:55

Positive RNS, not ground breaking but very good news all the same, and it suggests to me that the sales of those totes has been pretty substantial for a while, no wonder they were buying stock a couple of months ago.

The new man doing the job I guess. Lets hope we get a stream of these big orders to send CRU back towards 25p

[pugugly] 26/5/2018 11:27

Having another look at this but as main cost of production is probably raw plastic could there be a significant pressure on margins where and if production contracts do not have an escalator/pass through clause for changes in raw material costs?

[truffle] 26/5/2018 09:57

We will no doubt find out in due course
But I maintain my opinion that the buying from the directors/PDMRs was broad enough to suggest that the problems at Haydock have at least been identified and dealt with, and that the newish CEO will bring stability and improvements after his review of the company's operations
If you take a one to two year view from here we will hopefully see some substantial progress all round

[clocktower] 25/5/2018 11:37

Over the past months, it is clear that their has been a larger seller unloading blocks of stock of around 100k at a time - while these have been taken up in dribs and drabs, the share price has subsequently been stuck to the spot. Today being a prime example - I wonder if the director buying was being used to support a possible funding while a larger holder has has knowledge of this, who maybe about to put up further funding?

[truffle] 21/5/2018 10:17

If so, hopefully it is some good news with all the director/PDMR purchases 2/3 months ago

[valuschmalu] 20/5/2018 19:35

Update came out June last year I think so couple of weeks to go maybe before we hear anything?

[clocktower] 17/5/2018 16:17

Just been check out the trades since early May and it seems to me there has been a number of small trades at 10p that look like buys without any sign yet of a large seller - is this yet to appear?

Surprised we have not had any updates of late.

[charo] 07/5/2018 12:54

dyor vendor shareholders still involved with group hold more shares than jg and could act if felt he was no longer up to job.atholl why not contact them and put your point of view.They can give an educated opinion.

[charo] 07/5/2018 12:33

JG was appointed as non exec stepped into exec role only as last resort twice and returned to non exec both times as soon as execs in place.one would expect he was not solely responsible for exec appointments.He only has a 6% stake ,far from controlling and no service contract .If board were unhappy could easily remove with no more than minimal comp.If any two major shareholders voted agaist his reappointment then board would have to take action.

[clocktower] 07/5/2018 12:16

JG is the man that saved this from going under and has been the bedrock from which it is being rebuilt.

[atholl91] 06/5/2018 11:32

Grimmond is past his sell by date. Until he is gone this will continue to overpromise and under deliver.

[charo] 06/4/2018 14:51

Sorry response to criticism of non exec Low and he bought all of his shares on and after appointment over the 4 years.
Non exec fees of 25k are at low end and if you ever are acting as such in a listed company believe me it is not easy money.

[clocktower] 06/4/2018 14:48

Speaking of that £372K most of that I assume was paid to the guy that was given the boot when JG moved over, before getting the boot and JG taking charge once again before the latest changes. So, more of a one off hopefully.

Interestingly, I could not buy 10k @ 11p on-line first thing this morning. Last time this occurred when the share price was around 12.75p and new money was raised at 15p for an acquisition.

[sharw] 06/4/2018 14:28

charo - I am not sure what point you are trying to make but he held most of his shares before becoming a director - see:

[charo] 06/4/2018 12:51

25k per year is low

[charo] 06/4/2018 12:50

25k per year is low and shares bought from after tax earnings

[atholl91] 06/4/2018 12:29

Charo, This non-exec has also taken out £100k in fees since 2014. I would point out that the Directors (excluding comp for loss of office) took out £372k in emoluments out of Post tax profits of £458k - 81%!

[charo] 05/4/2018 17:57

How many non execs have 100k sterling invested in aim.
Amazing

[clocktower] 05/4/2018 15:01

More director buying which is a good sign, even if it is only a couple of thousand pounds worth.