News blog
Coral Products
- BY: Andrew Hore |
- POSTED: 05/01/2015 |
The Video Duplicating Company has gone into administration owing injection moulded plastic products manufacturer Coral Products £500,000.
In the seven months to November 2014, Coral made a pre-tax profit of £546,000 which will almost be wiped out by the cash owed by this major customer. Coral might get some of the money owed but it is best to assume that it will receive little or nothing.
This event shows the move away from media into the food sector is a good strategy. Net debt was £4.2m at the end of October 2014.
The share price has fallen 1.25p to 12.25p. Before Christmas a total of 1.65 million options were issued to a director and employees. The exercise price is 16p a share.
AIM Journal December 2014 available.
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