Coral navigates sterling slump to meet targets

CORAL Products, the Merseyside-based design, manufacturer and supplier of injection moulded plastic products, says trading in the first four months of the year is on target in spite of the slump in sterling value.

The listed company’s chairman Joe Grimmond will tell today’s annual meeting sales and profits are both substantially ahead of the same period last year in in the significant fall in the value of sterling relative to the dollar and euro during this year.

“Management is working diligently to mitigate these effects,” Grimmond will say.
 “One consequence of this fall is that it is likely to encourage the trend to import substitution creating greater opportunities for our UK manufacturing operations.

“The recently merged tatra rotalac business is now fully operational and is poised for further improvement.

“Order levels and cash flow are strong and in spite of prevailing uncertainties we remain confident for the year ahead.”

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