Coral Products Share Discussion Threads

[pugugly] 26/3/2019 12:45

CT: Had not looked at for ages and my database website link did not work so had to google and find new site - Not too sure what I think of it - Possibly a bit clunky. However managment have been buying at higher prices - I suppose all depends on outstanding £795<000 order and wheter penalty clauses - If penalty clauses then could be further unknown costs (all imo - dyor DD etc)

[aleman] 26/3/2019 12:38

The car industry is in recession so car orders falling is not unexpected. A delay in tote deliveries IS unexpected but will that mean more deliveries later? If the totes get delivered later and orders are normal or even growing with online warehousing, then the share fall is a massive overreaction. But how can we know? Not enough information.

[clocktower] 26/3/2019 12:30

Buys rolling in at this price it seems, so I just did a dummy trade and cannot get an online quote, so maybe it might hold around here today.

[clocktower] 26/3/2019 11:59

Will the CEO etc put their hands in their pockets or will they wait until they sink further, if at all?

I can recall JG buying a wack after a warning once before but we will have to wait and see if he does so this time.

[clocktower] 26/3/2019 11:40

New website? This one has been up for yonks.

[pugugly] 26/3/2019 10:41

Just had a look at their new website - No comment!!!
However re their recycling plant noted that they are BUYING IN WASTE - not VERY CLEVER (IMO) UNLESS VERY RESTRICTED IN WHAT THEY CAN RECYCLE- Most plastic waste has to PAY a very significant gate fee - so what goes??
"
"The plant has a capacity of a tonne an hour and will process plastic Polypropylene, HDPE materials. In addition to utilising waste produced on site, Coral Products (Mouldings) Ltd are buying in waste from outside parties, this increases how as a business they are supporting the circular economy. There has been a high level of interest in the plant from local authorities, and businesses within the UK and Internationally"

[this_is_me] 26/3/2019 10:08

I live closer than Spain, if they want to make me an offer!

[pugugly] 26/3/2019 10:01

I suspect if memebers on this thread had a quick whip round we could buy the company at this level and take private BUT IS THERE ANY VALUE? - Plastics are out of favour and recycling is in many cases unproven - Thought?
I must confess I am too old and in anycase would not wish to move to Merseyside - even though a relativly easy commute from Wales.

[escapetohome] 26/3/2019 09:25

Ill take some sub 5p.

Im feeling generous.

[clocktower] 26/3/2019 09:16

Best thing for shareholders would be a takeover and get rid of those that have mislead stockholders and JG, as he has a lot to answer for in this case as well.

[atholl91] 26/3/2019 09:14

I've been saying for over a year now. Grimmond must go. Living in Spain as a tax exile is no way to lead a company particularly with the trading history of his over the past 8 years. The board needs to be cleared out. Now.

[catscats] 26/3/2019 09:05

nobody is going to trust a word Mick Wood says from here on. I met him a couple of months back and he talked up prospects when he must have already known that things were going wrong...

[clocktower] 26/3/2019 08:22

This looks like the biggest hit I have taken for some seven years. Sods Law.

[fozzie] 26/3/2019 08:18

No that would be FA.

[topvest] 26/3/2019 08:14

Is this the most accident prone company on the LSE. Has to have some sort of record for the largest number of profit warnings!

[clocktower] 26/3/2019 08:11

Another CEO mistake it seems - and JG failings once again come to light not taking steps to mitigate these sort of shocks, and now we know why the share price was failing to move north on previous good news.

[fozzie] 26/3/2019 08:04

Deja Vu

Very disappointed (again) Too late to sell and the share price will recover (again) albeit slowly. The board have once again demonstrated their ability to pluck defeat from the jaws of victory. Back in the bottom draw, one day Rodders....

[clocktower] 26/3/2019 08:00

The stocks they built for the automotive business can at least be re-cycled - unlike the last time they wrote off £250k`s worth of stock.

However, if they have no use for all that re-cycled material as orders dry up, where does that leave Coral?

Should they have invested in the re-cycling plant but the real problem must have been the fire at the Ocado warehouse.

5p or less?

[base7] 26/3/2019 07:59

All the signed were positive ,Apart from the SP, & it will now be some time before recovery .Auto should be closed (if it can’t be sold) & the substantial expenditure incurred on tooling & plant written off -if it is the major drag on profitability .UK car manufacturing unlikely to recover short term ( if ever) & poor choice of market to enter .I am sure JG would not mind a graceful exit but we would not now sell for an attractive value unless he decides to sell for any price .

[aleman] 26/3/2019 07:58

Bad news and no detail. Why the delay? Are the totes sat there waiting to go so that the company will still make the profit next year or does it mean lower orders likely next year or does it mean they have not been able to meet the order in time or something else? Did early runs with recycled polymer produce some dodgy products? Lack of explanation does not help!

[this_is_me] 26/3/2019 07:57

They were not going to pull the already announced interim dividend since that would completely destroy the share price. I don't fancy the chances of a final dividend. They would not have announced serious problems without saying they were temporary if they had it more or less sorted.

[clocktower] 26/3/2019 07:47

Well that is shocking after all the positive sounds that were coming from the company,
I for one admit that I shall be taking a huge hit on this - what a time to be going to an investors show.

Can they pull this around now, should they be paying the dividend?

[escapetohome] 26/3/2019 07:41

A number of key factors have adversely impacted on performance in the latter part of the second half of the financial year, including a downturn in business generated from the automotive industry and significant delays in delivery of totes ordered from a major on-line retailer.

[this_is_me] 26/3/2019 07:38

Very disappointing, It sounds like a big production problem.

[likitorma] 26/3/2019 07:30

Oh my god, oh my god, oh my god
Massive profit warning.