News blog

Coral Products

• BY: Andrew Hore |
• POSTED: 16/04/2014 |

Plastic packaging manufacturer Coral Products believes that an £8m deal with an online fulfilment business will be signed soon.

This news has perked up the share price which has risen 2.63p to 15.25p, which values Coral at £6.4m.

The customer believes that it will place order in the first two years from June 2014 that will be worth £8m. In the six months to October 2013, total group revenues were £8.81m. Coral will supply specially designed boxes to four sites. The potential 10 year agreement was flagged up at the end of 2013, although sales were expected to start in May. The new 1,150 tonne injection moulding line will be used for the contract.

Coral won £875,000 of food packaging and public sector orders in January.

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