Coral Products Share Discussion Threads

[charo] 25/8/2020 15:24

Any hold up on figures will be because auditors are unable to audit as before.
Most audit firms have many working remotely and have major problems with their own audit procedures such as stock take attendance and reviewing physical asssets,
The profession sought a blanket 3 month extension to deadline and this has been granted.
No notice of delay beyond the six months has been posted by coral but no doubt will depend on matters outside their control.

[this_is_me] 25/8/2020 12:38

That should help win new orders long term at a good margin.

[clocktower] 25/8/2020 08:54

I assume valuschmalu,
Whatever furlough the company may have received, would not have benefited the company or helped massage the figures imo, as the employees furloughed would not have contributed in any manner, in fact the company might have made up their salaries for some weeks and before any agreements were in place.

What the figures have benefited from, is the reduction that the BoD have taken, and should continue to take until the fortunes of Coral are fully restored.

Another recent benefit is the restoration of production at Renault Nissan.

Tesimonial:

" A big thank you to Coral Products (Mouldings) LTD who successfully supply exterior door handles for the Renault Trafic project at our Sandouville production site.

We are very grateful for their support and hard work in ensuring a smooth start to production which has helped us deal with a number of back orders for the Renault after sales department.

We highly recommend Coral Products (Mouldings) LTD

William Tucker
Deputy Purchasing Project Manager, Renault Nissan Purchasing Organisation"

[valuschmalu] 24/8/2020 20:08

Do you think there is government salary furlough aid in these figures ie salary costs reduced by furlough offset? If not they are remarkably good

[clocktower] 24/8/2020 15:20

This_is_me, That`s only Global One Pak Ltd but as Coral Mouldings guidance has not changed from May, then I agree Q2 may well be better than Q1.

"The Board is confident, subject to the Covid-19 caveat below, that cash flow should further improve over the remainder of the financial year."

So a very good prospect imo.


"Moulding and extrusions operations remain as previously disclosed in the Company's trading update of 14 May 2020."


"April Sales as a % of Pre Covid-19 Average:

Coral Products (Mouldings) 90% Injection and Blow Moulding
Ltd "

[this_is_me] 24/8/2020 14:57

Today's update was for Q1 i.e. up to the end of July so we might reasonably expect Q2 to be at least a bit better than Q1 as these record orders are delivered.

[clocktower] 24/8/2020 13:16

Yes charo but the full year results were published on 22.08.2019 and the previous year 27.09.2018 - so is it just an attempt to stabilise the sp?

Would it not have been better to release the figures (with this update, which would have settled any nerves)?

While they cannot issue a forward looking statement, it does give an idea of the prospects. Bearing in mind that in May they stated:-

" A good example is Global One Pak Ltd, who are reliant on Chinese imports, where management has moved quickly to change product mix and negotiated new supply terms with customers and suppliers resulting in a record order intake during late April 2020 for delivery from August 2020 and well into 2021."

So this month should have seen some of these record orders started to be delivered.

[charo] 24/8/2020 12:50

Because ,as with most companies they feel unable to issue formal guidance ,they need to keep market informed so there can be a semblance of informed trading .Good or bad.
No suggestion of delay to annuals expect similar timescale to previous years.

[clocktower] 24/8/2020 12:44

When are we going to see the full year figures and we know they are going to show a small loss, as they have not made any reference to a change to the previous guidance given.

Why post this RNS ahead of results?

[charo] 24/8/2020 09:54

Much better statement clarifying operating profit after all interest and Bank charges.

[clocktower] 24/8/2020 09:32

base7, better to concentrate on increasing profitable sales and getting back to where the company was two years ago. They should never have paid dividends and retained cash. The share price would have responded as not everyone wants income and more importantly is growth.

[base7] 24/8/2020 09:01

Great to receive surprise news of a positive kind from Cru .I expect that there will be many acquisition opportunities in our sector currently & our problem currently being lack of cash & a very poor rating making a fundraising very expensive .Perhaps JG is embarking upon a charm offensive to try to re rate our shares in order that we can take advantages of sone of the opportunities which are bound to be out there currently & in the near future

[clocktower] 24/8/2020 08:57

The very goods news imo is this statement in the RNS:

"Moulding and extrusions operations remain as previously disclosed in the Company's trading update of 14 May 2020."

and as for finance expenses Aleman, I do not think any extra cost will kick in for some months, and in fact may reduce due to Barclays in interest free period this year:

May 2020.
"We have negotiated a three-year CBIL (Coronavirus Business Interruption Loan) for GBP1 million pounds, with a 7-month capital repayment holiday, at an interest rate of 4.5% over base, 12 months interest free from the Company's existing bank - Barclays. The existing security arrangements with Barclays will continue, no additional security has been provided by the Company"

So plenty of time to get back on it`s feet imo.

[aleman] 24/8/2020 08:22

Well, that's a pleasant surprise. Could it be the turnaround has finally arrived? It does say excluding finance expenses, though. Presumably, they are going to be higher?

[clocktower] 24/8/2020 08:21

Looks like we are going to see a decent increasing in volumes and hopefully a rise in the share price once again.

[clocktower] 24/8/2020 08:04

I wonder if you will see JG or the other board members buying again in a few hours times.

[this_is_me] 24/8/2020 07:53

Yes, a big increase in operating profit despite the virus is hugely encouraging.

[clocktower] 24/8/2020 07:08

Well that's a big positive.on the right road again.

[clocktower] 19/8/2020 10:10

Hopefully they have more to talk about than this when the results come along.
What about the big recycling bin that their local council was supposed to be trialing?
The roof tiles?

"Coral Products PLC
@CoralproductsUK
Good Morning.

Over the next few weeks we shall be featuring our 23 Litre, disability friendly, animal proof container for food waste."

[clocktower] 07/8/2020 14:05

I was just wondering if there will be a trading statement ahead of the results due soon.

[clocktower] 22/7/2020 11:58

Is that large sell the end of the overhang?

[clocktower] 20/7/2020 10:31

New member of staff.

[clocktower] 15/7/2020 15:16

This must now be one of the most least liquid stocks on the market, with so few trades taking place and on many days zero.

[clocktower] 15/7/2020 10:44

CRU Being poor communicators in this day and age leaves a lot to be desired - this clearly is one of JG`s weaknesses, as he should have recognized the importance of using the media long ago.

No news they say is good news but in this case who knows but if there was confidence one would expect to see steady buying of the stock due to the normal leaks that drift out from most successful enterprises.

[aleman] 15/7/2020 10:05

I've no idea, clocktower. I'm not bothering to get so detailed. Just pointing out a big customer is very busy. The other online warehouse/distribution depots will be, too, plus demand for pump and trigger spray bottles should be very strong. CRU could be doing very well or not. We just don't know without news. (The company only told us about April, which was very disrupted, and is clearly now out of date.)