Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Coral Products warns on revenue after recent challenges
(Sharecast News) - Shares in plastic products manufacturer Coral Products were sliding on Friday, after it described a challenging trading period during December and January in an update. The AIM-traded firm said it now anticipated a 10% reduction in revenue compared year-on-year, primarily due to decreased customer orders and negative impacts on EBITDA margins.
It said the decline in customer orders was in line with broader economic trends in the UK, with Coral's customers actively managing working capital and existing inventories by deferring replenishment inventory purchases.
However, the company said it maintained its market share and continued to acquire new customers, anticipating a recovery in pipeline orders starting in February.
Despite the challenges, Coral said it was committed to its diversification strategy and recent investments in machinery, new products, and channel launches over the last year.
Those investments were expected to generate revenue in the fourth quarter, and contribute fully in the 2025 financial year.
Under the new leadership of chief executive Lance Burn, Coral said it was undergoing a comprehensive review to strengthen its position for future growth.
Key areas of focus included suspending the 2024 interim dividend to take a prudent approach given market uncertainties, and identifying operational efficiencies, particularly in consolidating workspaces and centralising services.
"I am confident that Coral is well-placed to navigate the current economic challenges whilst actively planning and supporting future growth opportunities," said chief executive officer Lance Burn.
"The fundamentals of the business are as I anticipated before I joined and the customer caution that has been a recent feature is not unique to us.
"Critically, our customers remain with us and we will use this moment as an opportunity to reset the business with a strong platform for long-term growth."
Coral Products said it would provide an update on trading following the end of its financial year on 30 April.
At 1600 GMT, shares in Coral Products were down 25.36% at 12.31p.
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
