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Birmingham Post
Birmingham Post
Business
Tom Houghton

Coral Products sees sales soar as firm 'well positioned' to face second English lockdown

Merseyside plastic products maker Coral has announced a soar in sales during the second quarter, with the firm "well positioned" to face "inevitable" challenges brought about by the second English lockdown.

The Haydock-based firm said in a trading update on Thursday that the three months to October 31 remained in line with the "positive trend" seen in the first quarter.

It said unaudited sales increased by 26% from £5.4m in the first quarter to £6.8m, with performance across the group "continuing to exceed management's expectation".

Addressing the UK Government-enforced English lockdown, which began on Thursday, the statement added: "The company believes that it is well positioned to face the continued challenges which will inevitably be experienced by the company as a result of the second UK national lockdown."

Last week, Coral, a manufacturer and distributor of plastic products in sectors including food packaging, personal care, telecoms and rail, last week pushed back publication of its annual accounts by three months - to January.

It said that was due to disruptions caused by the coronavirus pandemic, but added that trading was in line with the first quarter's positive trends.

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