CORAL PRODUCTS PLC

Earnings Release • Oct 31, 2025

National Storage Mechanism | Additional information

RNS Number : 5962F

Coral Products PLC

31 October 2025

31 October 2025                                    

CORAL PRODUCTS PLC

('Coral' or the 'Company' or the 'Group')

Final Results and Directorate Change

"A year of recovery and profitability"

Coral Products PLC, a specialist in the design, manufacture and supply of specialist plastic products based in Wythenshawe, Manchester, today announces its results for the year ended 30 April 2025 ("FY25").

FINANCIAL HIGHLIGHTS:

·      Profit after Tax £637k; FY24: (£1.129M)

·      Revenue* of £31.045M, slightly ahead of FY24: £30.991M

·      Gross Margin down at 32.56%; FY24: 34.45 %

·      EBITDA £2.873M; FY24: £1.535M

·      Earnings per share 0.72p; FY24: (1.26)p loss

*Includes Intercompany sales of £1.2M

OPERATIONAL & STRATEGIC HIGHLIGHTS:

·      Restructured and re-sized the business with overhead reduction (including senior management positions)

·      Successful correction of the operating performance of the £3M investment in machines and tooling, now delivering target sales levels and vertical integration within the Group

·      £1.821M capital investments in the year to support development and growth in future years

·      Successful strategic acquisition of Arrow Film Converters Ltd ("Arrow Film"), as announced on 1 April 2025, which strengthens the Group's 'Flexibles Division'

·      Greater asset utilisation and capacity increases from existing equipment with a £50M manufacturing capacity on a Group basis

·      Secured the renewal of a 3-year supply agreement for leading UK Telecommunications contract announced on 4 March 2025 and effective from April 2025

·      New business wins in H2 carrying into FY26

·      Completed the sale and leaseback of two properties in the period

·      Successfully concluded long-standing insurance claim from Film & Foil Solutions Ltd at expected value

·      Paul Rice appointed as Group Finance Director on 17 February 2025

POST YEAR END OPERATIONAL HIGHLIGHTS:

·      Ian Hillman appointed as Group CEO in May 2025 and Rob David appointed as Group Operations Director

·      Successful closure and operational integration of Customised Packaging Ltd (CPL) into the Manplas Ltd business

·      The Group purchased 203,000 of its own shares into treasury at an average cost of 9.7p. Following these purchases, the Group's total number of ordinary shares carrying voting rights is 88,829,697

Outlook

·      The results for the first five months of this year are encouraging, trading ahead of expectations and benefiting from the excellent operational and commercial progress made in H2 2025. Having restored stronger foundations and organisational structure, we consider the Group to be strategically well-positioned for sustainable growth in our key operating divisions and market sectors.

Joe Grimmond, Chairman, commented:

" Following a very disappointing first half which resulted in a pre-tax loss of (£1.145M), we took decisive action by appointing a largely new executive team with a clear focus on strengthening our operational fundamentals. I am pleased to report that these actions and changes have led to significant improvements in the Group's operational and financial performance, as clearly demonstrated in these results.

"I'm also pleased to report that the new financial year ("FY26") has started strongly, despite the prevailing economic challenges. The robust performance achieved in the first five months gives us confidence in our ability to deliver continued improvement going forward."

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain. The Directors of the Company take responsibility for this announcement.

For further information please contact:

Coral Products Plc                                                                                       www.coralproducts.com

Joe Grimmond, Non-Executive Chairman                                                    Tel: 0161 946 9460

Ian Hillman, Chief Executive Officer                                                           Tel: 0161 507 9302

Cairn Financial Advisers LLP - NOMAD and Broker                             Tel: 020 7213 0880

Sandy Jamieson / Ludovico Lazzaretti

About Coral Products:

Coral Products Group is a specialist producer of technical and added value polymer products produced from both rigid and flexible substrates that combine to offer customers the widest choice of products and packaging solutions.  Based in the UK with 5 manufacturing facilities and 2 distribution locations the business is trusted by leading UK brands and companies across food packaging, retail, personal care, household, construction, automotive and tele-communication sectors.

Chairman's statement:

Given the challenges faced within the year, this is a solid performance. Much has been achieved in the year to include a significant organisational re-structure, overhead reduction, operational alignment and increased business integration, resulting in an increase in intercompany sales across the Group, all contributing to an impactful H2 turnaround. 

The acquisition of Arrow Film, completed on 2 April 2025, and has been successfully integrated into the Group and, as a result, we have strengthened the Group's Flexibles Division. This acquisition has further improved our capability expansion with the introduction of modern print presses, in-house reprographics, and additional lamination capacity offers our customers a unique opportunity to purchase a full range of flexible packaging and thermoformed products from one source. 

FY25 was a year focused on reorganisation. Whilst the first half of the year was challenging; decisive actions were taken by the Board and management including strengthening the leadership team which created stability and re-focused the Group on its core strategy. The benefits of these actions were evident in the second half of the year, and I am pleased that the Group was able to deliver a financial performance ahead of market expectations and return the business to profitability.

Encouragingly, the first five months of FY26 have started positively, with trading ahead of internal forecasts and margins improving. This provides confidence that the Group is now on track for the current financial year.

Throughout my tenure, I have been consistently impressed by the professionalism, commitment and resilience of our employees. Their ability to adapt to changing circumstances and to support our customers with innovation and service has been central to Coral's success. On behalf of the Board, I would like to thank every colleague for their hard work and dedication and to Ian and his senior team for leading the recovery in the second half.

The Board remains committed to building on the progress made to date. With a clear strategy and strong leadership, Coral is well positioned to continue its transformation journey, achieve organic growth, and pursue selective acquisitions to broaden its capabilities.

Dividend:

The Board has carefully considered the Group's dividend policy in combination with the operational and strategic ambitions of the business.  While no final dividend is recommended at this stage, the position will be kept under review and dividends will be considered in line with trading performance, cash generation and investment priorities.

Outlook:

The Group has created a strong foundation to actively pursue additional strategic acquisitions to add to its organic growth potential and enhance shareholder returns.

This year marks an important moment for me personally and the Group. After more than 14 years serving the Coral Board in various roles as Non-Executive Director, Executive Chairman and most recently Non-Executive Chairman, I have decided to step down from the Board at the forthcoming AGM and am pleased to confirm that David Low (Senior Non-Executive Director) will take over as Non-Executive Chairman. It has been a privilege to support Coral Products Group through a period of significant growth, challenge and transformation, and I am proud of the progress the business has made. I would like to thank all my colleagues past and present and the valued shareholders and customers for your continued trust and support in this wonderful business.

It has been a personal honour to serve the Group and its shareholders. I look forward to following Coral Products' continued success in the years ahead and wish my colleagues every success in delivering the next phase of growth.

Joe Grimmond

Chairman

30 October 2025

Chief Executive Officer's Statement

FY25 represents my first set of results as Chief Executive Officer of Coral Products Group and I am delighted to be leading this great business. It has been a year of transition and reset, and we are pleased to have delivered a set of results that materially exceed market expectations following our H1 results in January 2025:

Year End April	Audited Fu ll Ye ar to 30 April 2025	Unaudited Six Months to 31 October 2024 (Interim Results dated 27th January 2025)	Unaudited   Six Months to 30 April 2025	Unaudited Variance
Revenue	£29.8M	£15.8M	£ 14.0M	-11.4%
Total Segmental Revenues £000's **	£31.0M	£16.3M	£14.8M	-9.2%
Gross Margin	32.5%	30.4%	34.9%	+4.5%
EBITDA	£2,873K	£224K	£2,649K	+£2,425K
Operating (Loss) / Profit	£1,197K	£(618k)	£1,815K	+£2,433K

**Includes £1.2M of Intercompany sales; Six Months to 30th April includes 2-week Christmas closure

While the early part of the year was challenging, reflecting both the wider economic pressures and specific operational and trading issues within the Group, we took decisive action to include, a Group restructure, and changes to leadership and divisional accountability. This resulted in greater stability for the Group and improved visibility across the business.

The second half of the year demonstrated the benefits of these actions. New machinery became fully operational, delivering improved sales and margins, while targeted cost measures strengthened the Group's cash generation. The successful acquisition Arrow Film further provides an immediate revenue and margin contribution and broadens our flexible packaging capabilities with vertical integration.

Key Performance Indicators - FY25 vs FY24

Revenue; operating profit and margin	FY25	FY24	Change
Revenue *	£ 31,045 K	£ 30,991 K	+£54k
Gross Margin %	32.5%	34.4%	-1.9%
PBT / (Loss) after tax	£637K	(£1 , 129)K	+£1,766k
E BITDA ***	£2,873K	£1,535K	+£1,338k
Return on Capital Employed	6.4%	(0.83)%	+7.23%
Net Assets	£12.0M	£11.8M	+£0.2M
Gearing %**	58.7%	63.7%	-5.0%

*Including intercompany Sales of £1.2M

** Excluding Right of use assets

*** Refer to notes 6 and 30 in the Report & Accounts

Our financial performance for the year, which includes separately disclosed income of £2,843k (2024: £nil) and separately disclosed expenditure of £1,498k (2024:£1,985k) in the year, materially exceeded full year expectations and delivered improvement gains on all the key performance measures compared to the prior year. The business has retained a strong balance sheet which is underpinned by operational improvements, new business wins, and the early benefits of greater integration between our divisions. These results reinforce our belief that the Group's potential is not yet fully reflected in market sector performance, and that future opportunities exist both organically and through selective acquisitions.

Divisional Performance Overview:

Sales	FY25	FY24	Change %	% Group Sales of Total Sales	Inter Co Sales	Capital Invested in the year
Rigid Division	£12.7M	£12.9M	-1.5%	9.45%	£1.2M	£ 276K
Distribution	£6.4M	£6 .1 M	+5.8%	-	-	£ 29K
Flexible Division	£11.9M	£11.9M	-	-	-	£ 1,516K

Flexible Division:

The industry-wide softening in the packaging market was demonstrable in the like-like for revenue between FY25 and FY24, however margin and organisational improvements ensured that we started to deliver improvements in H2 and beyond.

In April 2025, we welcomed new colleagues following the asset purchase of Arrow Film Converters which has resulted in a gain on bargain purchase of £2.58M. We have successfully integrated this business into the Group and the combination of the 3 businesses that form our Flexibles division now offer an even stronger product offering to customers. We expect this to result in new business opportunities in the current financial year and increase our strategic importance in this market sector.

During the year, we committed to investing in an important and strategic R-Pet (Recycled Polyester) extrusion line into the Alma Products Ltd business. This was required to extend the existing extrusion capabilities of Polypropylene (PP), Polythene (PE), Polystyrene (PS) and Acrylonitrile Butadiene Styrene (ABS) in line with the market movement to R-Pet substrates.  This new extrusion line is expected to be fully operational in November 2025 and provides us with the opportunity to secure existing business whilst creating new customer opportunities.  This investment marks an important strategic development of Alma Products.

Additional investment into Alma Products Ltd was also committed in granulation machinery and a palletising line, creating the facility to convert waste into resin pellets for re-use within our own extrusion production.  The ability to process pelletised resin waste allows us to produce and offer products with more than 30% post-consumer waste (PCR) and provides commercial benefits. With these additional facilities, we are beginning to partner with key customers to recycle their process waste into the base film and / or the finished thermoformed product as part of our 360-degree circular materials strategy and, in turn, enhance our focus on sustainability.

Capital investment into Film & Foil Solutions Ltd saw us introduce the manufacturing of three new speciality processes, such as stand-up pouches (a growth product within the flexible packaging market), solventless lamination, used to bind multiple substrates, and specifically, single polymer substrates that are used to offer more sustainable packaging as they become fully recyclable, and finally, bag production.

I am pleased to report that all of the capital investments made in the year are delivering new business and a growing pipeline of sales opportunities. In addition, we continue to structure our commercial strategy towards our integrated portfolio that offers customers a range of complimentary products from one source.

Rigid Division:

Following a subdued market in H1 2025, we increased sales in H2 2025 primarily by addressing the operational issues associated with the new machinery investments made in 2023 and the Eco-Deck grids.  The optimisation of the new machinery investments (approximately £3M) was the primary operational focus in H2 2025, resulting in the full suite of machines producing the targeted range of products with incremental output throughout Q3 and Q4 2025. In the case of the Eco-Deck grids, we have increased the capacity with process improvements, and the introduction of a 4th Injection moulding machine provides sufficient capacity to produce 100% of the Eco-Deck grid volumes in-house with no 3rd party supply dependency, allowing us to manage the supply chain, control product costs and offer customers security of supply.  We have also seen a steady increase in volumes in our range of bottle caps and closures and ice cream container production, which also formed part of the £3M machinery investment.

The integration and site closure of the Customised Packaging Ltd business has been a focus within the second half of the year, and this was successfully concluded in July 2025. The project incurred some large exceptional costs, including stock write downs. The rationalisation of both site and labour costs will support the Manplas Ltd business performance in Q3 of FY26 and beyond. 

Continued efficiencies and cost improvement measures across the two manufacturing businesses continue with particular focus on the Manplas Ltd business.

The Group took the opportunity to consolidate the sheet extrusion production conducted within the former Customised Packaging Ltd business into the Alma Products Ltd business, with the transfer of an extrusion line, allowing us to focus this specialist process of extrusion in one Group business. We recognise Alma Products Ltd as having extrusion as its core competence, thus improving the utilisation of existing assets, skills and expertise in the Group and creating more opportunity for growth and development for extruded sheet in the market.  As a result, Manplas Ltd becomes a customer of Alma Products Ltd.

The successful retention and issue of a new 3 -year supply agreement (aggregated sales value estimated circa £12M-£15M over the 3- year period) with a leading telecoms customer effective from April 2025 was a particular highlight. An additional 3-year supply agreement for the supply of ice cream containers (estimated at £1.5M-£2M of sales per annum) combine to provide added surety of volumes and revenue into FY26 and beyond.

Distribution:

Both businesses benefited from the successful manufacturing of core products within the Group (Rigid division), creating a stronger and more flexible service proposition to customers, improved cost control to support new business development.

The in-house manufacture of key products also created the opportunity to produce and launch additional products and, in the case of Eco-Deck, a range of coloured ground markers that create car parking spaces, disabled spaces, electric car charging spaces by using the cavities within the grids.  These markers are in full production and gaining traction within the market.

Investment, Capacity and Sustainability

During the year, we continued to invest net £1.8M in capital expenditure across the Group. The capital expenditure was centred around plant and machinery, process improvements, tooling for new projects, capacity increases from existing equipment and recycling equipment to support our sustainability objectives. We are proud to now actively offer customers a genuine 360o circular supply relationship, enabling our customers the opportunity to return waste to us for 'batch recycling', which can then be processed back into their materials purchased from us, delivering a full circular solution aligned to both customer and our own sustainability objectives.

Sustainability sits at the centre of our innovations and investments, with product development increasingly focused on supporting customers in addressing the cost implications of Extended Producer Responsibility (EPR). This includes changes to material specifications, product design and recycling pathways, enabling our customers to both reduce costs and meet their regulatory and environmental commitments.

Having re-set and re-structured the Group, creating greater stability and visibility within each of our divisions and manufacturing businesses, we are confident that we can support organic growth within our manufacturing capacity of approximately £50m. Alongside this, we will continue to seek selective acquisition opportunities to accelerate growth and broaden our capabilities and product offering.

Strategy & Our Focus:

In the short term, we will continue to strengthen the foundations of our business and look at additional synergies where we can reduce cost. We will focus on disciplined cash management with prudent capital expenditure that offers disciplined ROCE targets.

We expect to continue and deliver meaningful sales and margin expansion in FY26.  Our primary focus is to continue to grow and scale the business profitably, sustainably and at pace.  With an estimated £50M manufacturing capacity in market sectors, that continue to offer annual growth and have requirements for technical solutions and responses to changing demands, we recognise solid opportunities for organic growth, and we have confidence that our integrated range of products increases our chances of success. The business continues to work hard to expand our market share in established markets and we need to continue to hone our business development and product innovation skills for the years ahead.

Our results for this past year are not wholly representative of the general market sector performance, and we therefore recognise opportunities for further consolidation and M&A activity, therefore, we see organic growth as another key part of our growth strategy that will accelerate our growth ambitions. We continue to be productive in our research and seek to be ready to react quickly to a viable opportunity when it materialises, evidenced in the successful acquisition of Arrow Film.

Given the above, my priorities as CEO remain clear:

·      To leverage our £50M manufacturing capacity to drive organic growth

§      To maintain a disciplined approach to investment and innovation, particularly in sustainability and recycling solutions, supporting customers with the cost implications of EPR

·      To pursue acquisition opportunities that strengthen our market position, broaden capability, and accelerate growth

Outlook

We are excited about the future and have a refreshed confidence in our own capabilities.  As a UK manufacturer with design, innovation and integrated recycling strengths, we can support our customers with commercially driven product changes and solutions to accommodate the rapidly changing sustainability landscape.

We have secured several significant new business wins, with production commencing progressively during FY25 and FY26. These contract gains are an important driver of medium-term revenue and margin growth. The first five months of this year have started well, with significant revenue increases and profit performance materially ahead of expectations.  Whilst we are pleased with the Group's performance for the first five months, we are not complacent, and we are always mindful of the ever changing and challenging macroeconomic and geopolitical climate. Accordingly, we will continue with effective and prudent cost management measures and maximise our synergies through resource allocation across the Group.

Closing remarks:

I would like to thank all our colleagues across the Group for their commitment and professionalism during what has been a challenging but ultimately successful year of change. Their resilience and adaptability give me confidence that we will continue to build on the momentum created into FY26 and beyond.

The Annual Report also marks the final statement from Joe Grimmond, who will step down as Chairman at the AGM after more than 14 years in leadership roles within the Coral Products Group. Joe's strong leadership, personality, high expectations and entrepreneurial acumen has left his DNA inherent within the business, and he will be missed by colleagues across the Group. On behalf of all our employees, I would like to thank him for his immense contribution and personal achievements.

Looking ahead, I am pleased that our long serving senior, independent Non-Executive Director, David Low, who has served on the Board since 2018, will assume the role of Non-Executive Chairman. David's detailed understanding of the business, coupled with extensive investment banking experience, position him well as an ideal replacement to Joe, I am sure David will continue to guide the Group as we pursue disciplined capital investment and acquisition opportunities.

Ian Hillman

Chief Executive Officer

30 October 2025

Group Income Statement

for the year ended 30 April 2025

					Note	2025 £'000		2024 As restated £'000
Revenue						29,831		30,991
Cost of sales						(20,124)		(20,315)
Gross profit						9,707		10,676
Operating costs
Distribution expenses						(1,386)		(1,383)
Administrative expenses before other separately disclosed items						(8,469)		(7,449)
Other separately disclosed items						1,345		(1,985)
Administrative expenses						(7,124)		(9,434)
Operating profit						1,197		(141)
Finance costs						(981)		(1,021)
Profit /(Loss) for the financial year before taxation						216		(1,162)
Taxation						421		33
Profit /(Loss) for the financial year attributable to the equity holders of the parent						637		(1,129)
Basic Earnings/(loss) per ordinary share					3	0.72p	(1.26)p
Diluted Earnings/(loss) per ordinary share					3	0.72p	(1.26)p

Group Statement of Comprehensive Income

for the year ended 30 April 2025

				2025 £'000	2024 As restated £'000
Profit/(Loss) for the financial year				637	(1,129)
Total other comprehensive (loss)/profit				(9)	-
Total comprehensive income/(loss) for the year attributable to equity holders of the parent				626	(1,129)

The accompanying accounting policies and notes form an integral part of these financial statements.

Statement of Financial Position

as at 30 April 2025

	As at 30 April 2025 £'000	As at 30 April 2024 As restated £'000	As at 30 April 2023 As restated £'000
ASSETS
Non-current assets
Goodwill	3,973	3,973	4,385
Intangible assets	4,829	1,958	2,956
Property, plant and equipment	7,093	7,053	7,209
Right of use assets	3,239	2,077	2,870
Investments in subsidiaries	-	-	-
Deferred tax	-	-	-
Total non-current assets	19,134	15,061	17,420
Current assets
Inventories	4,848	4,743	4,320
Trade and other receivables	7,489	6,644	7,193
Cash and cash equivalents	788	2,014	4,774
Assets held for sale	-	1,706	200
Total current assets	13,125	15,107	16,487
LIABILITIES
Current liabilities
Other borrowings	6,060	6,534	6,063
Lease liabilities	904	721	970
Trade and other payables	6,332	5,901	7,438
Provisions	261	-	-
Total current liabilities	13,557	13,156	14,471
Net current (liabilities) / assets	(432)	1,951	2,016
Non-current liabilities
Term loan	1,771	3,298	3,263
Lease liabilities	3,489	891	1,505
Deferred tax	1,436	986	1,040
Total non-current liabilities	6,696	5,175	5,808
NET ASSETS	12,006	11,837	13,628
SHAREHOLDERS' EQUITY
Share capital	903	903	903
Treasury shares	(186)	(170)	-
Retained earnings	11,289	11,104	12,725
TOTAL SHAREHOLDERS' EQUITY	12,006	11,837	13,628

Statement of Changes in Shareholders' Equity

for the year ended 30 April 2025

Group			Called Up Share Capital £'000	Treasury Shares £'000	Retained Earnings £'000	Total Equity £'000
At 1 May 2023 (as previously reported)			903	-	12,945	13,848
Impact of prior year restatement			-	-	(220)	(220)
At 1 May 2023 (as restated)			903	-	12,725	13,628
Loss for the year (as restated)			-	-	(1,129)	(1,129)
Other comprehensive income for the year			-	-	-	-
Total comprehensive income for the year			-	-	(1,129)	(1,129)
Contributions by and distributions to owners
Equity settled share-based payments			-	-	43	43
Treasury shares			-	(170)	-	(170)
Dividend paid			-	-	(535)	(535)
At 1 May 2024			903	(170)	11,104	11,837
Profit for the year			-	-	637	637
Other comprehensive income for the year			-	-	(9)	(9)
Total comprehensive income for the year			-	-	626	626
Contributions by and distributions to owners
Equity settled share-based payments			-	-	2	2
Purchase of treasury shares			-	(16)	-	(16)
Dividend paid			-	-	(445)	(445)
At 30 April 2025			903	(186)	11,289	12,006

Group Cash Flow Statement

for the year ended 30 April 2025		Note	2025 £'000	2024 As restated £'000
Cash flows from operating activities
Profit for the year			637	(1,129)
Adjustments for:
Depreciation of property, plant and equipment			723	638
Depreciation of right of use assets			722	716
Amortisation of intangible assets			255	535
Share based payment charge Gain on bargain purchase			2 (2,578)	43 -
Profit on disposal of buildings Impairment of building			(33)                   -	- 34
Impairment of goodwill and intangibles			-	875
Change in fair value of contingent consideration			(15)	215
Change in provisions			261	-
Interest payable			981	1,021
Taxation (credit)			(421)	(33)
Operating cash flows before movements in working capital			534	2,915
(Increase) in inventories			(60)	(423)
(Increase)/ decrease in trade and other receivables			(574)	549
Increase/(decrease) in trade and other payables			200	(1,598)
Net cash generated from operating activities			100	1,443
Cash flows from investing activities Net cash on disposal of building			1,899	-
Net cash on disposal of property, plant & equipment			1,794
Cash outflows on business combination (net of cash acquired)			(675)	(15)
Payment of contingent consideration			(170)	-
Acquisition of property, plant and equipment			(869)	(2,145)
Net cash generated from/(used in) investing activities			1,979	(2,160)
Cash flows from financing activities
New bank borrowings raised			-	2,299
Dividends paid New lease liabilities		3	(445) 998	(535) -
Interest paid on bank borrowings			(333)	(200)
Interest paid on invoice discounting			(417)	(437)
Interest paid on lease liabilities			(202)	(384)
Repayments of bank borrowings			(2,758)	(530)
Repayments of obligations under lease liabilities			(889)	(863)
Purchase of treasury shares			(16)	(170)
Net cash generated from/ (used in) financing activities			(4,062)	(820)
Net decrease in cash and cash equivalents			(1,983)	(1,537)
Cash and cash equivalents at 1 May			(2,462)	(925)
Cash and cash equivalents at 30 April			(4,445)	( 2,462)
Cash			788	2,014
Invoice discounting facility			(5,233)	(4,476)
			(4,445)	(2,462)

The accompanying accounting policies and notes form an integral part of these financial statements.

1.   Basis of preparation

The financial information set out above does not constitute the Group's statutory accounts for the years ended 30 April 2025 or 2024 within the meaning of Section 434 of the Companies Act 2006 but is derived from those accounts. Statutory accounts for 2024 have been delivered to the Registrar of Companies and those for 2025 will be delivered following the company's General Meeting.

The financial statements have been prepared on a historical cost basis (except for certain financial instruments, land and buildings and share-based payments that have been measured at fair value), and in accordance with the AIM Rules and UK adopted International Accounting Standards.

2 . Earnings per share

Number of Shares		2025	2024
Weighted average number of shares		90,277,589	90,277,589
Effect of weighted average number of treasury shares		(1,236,511)	(723,409)
Weighted average number of shares for the purposes of basic earnings per share		89,041,078	89,554,180
Effect of share options		-	139,579
Weighted average number of shares for the purposes of diluted earnings per share		89,041,078	89,693,760

		2025				2024
		Earnings £'000	Weighted average number of shares	Earnings per share (pence)	(Loss)/ earnings £'000		Weighted average number of shares	(Loss)/ earnings per share (pence)
Profit/(loss) for the year		637	89,041,078	0.72	(1,129)		89,554,180	(1.26)
Separately disclosed items (note 6 in Report & Accounts)		(1,345)	-	-	1,985		-	-
Underlying profit/(loss) for the period		(708)	89,041,078		856		89,554,180

3. Dividends

		£'000
PAID PRIOR YEAR		535
PAID DURING YEAR
Interim dividend for 2024: 0.25p paid 23 August 2024		223
Final dividend for 2024: 0.25p to be paid 17 January 2025		222
		445
PAID FOLLOWING YEAR END
No dividend has been paid following the year end.		0
		0

4.  Publication of Annual Report

A copy of the 2025 Report & Accounts will be sent to all shareholders. Further copies will be available to the public at the Company's registered address at Southmoor Road, Wythenshawe, Manchester, M23 9DS and on the Company's website at www.coralproducts.com .

5.  Forward looking statements

This announcement contains unaudited information and forward-looking statements that are based on current expectations or beliefs, as well as assumptions about future events. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts and undue reliance should not be placed on any such statement because they speak only as at the date of this document and are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results, and Corals plans and objectives, to differ materially from those expressed or implied in the forward-looking statements. Coral undertakes no obligation to revise or update any forward-looking statement contained within this announcement, regardless of whether those statements are affected as a result of new information, future events or otherwise, save as required by law and regulations.

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