**Summary of Coral Products PLC Half-Year Financial Report (January 8, 2026)**
**Overview**
Coral Products PLC, a UK-based specialist in designing, manufacturing, and supplying plastic products, released its unaudited interim results for the six months ending October 31, 2025. The report highlights significant financial and operational improvements, despite a challenging economic environment.
**Financial Highlights (H1 2026 vs. H1 2024)**
**Revenue Growth**Group sales (excluding intercompany sales) increased by **21.5%** to £19.2 million, while sales including intercompany transactions rose by **29.4%** to £21.1 million, driven by vertical integration.
**Profitability**Gross profit surged by **39.5%** to £6.7 million, and underlying operating profit jumped by **4,579%** to £1.31 million. Reported profit before tax turned positive at £0.1 million, compared to a £1.3 million loss in H1 2024.
**EBITDA**Underlying EBITDA grew by **144.3%** to £1.78 million.
**Earnings per Share**Underlying basic earnings per share improved to **0.74p** from a loss of 0.48p in H1 2024.
**Strategic and Operational Achievements**
**Intercompany Sales**Increased by **225%** to £1.9 million, reflecting successful integration of Group businesses.
**Business Performance**Structural improvements at Manplas Ltd are yielding financial benefits, while Arrow Film & Foil Converters Ltd is performing as expected.
**Sustainability**Progress in increasing recycled content across products and investments in sustainable technologies, such as the rPET extrusion line (slightly delayed to January 2026).
**Operational Efficiency**Focus on manufacturing optimization is enhancing gross margins and operational efficiency.
**Divisional Performance**
**Flexible Division**Strong performance with successful integration of Arrow Film & Foil Converters Ltd, focusing on sustainable profitability.
**Rigid Division**Solid revenue growth and improving gross margins due to operational efficiencies.
**Distribution Division**Continued growth with deeper customer penetration and success in securing orders for innovative products like the single polymer lotion pump.
**Outlook**
The Group expects **marginally higher revenue** in H2 2026, driven by new business wins and operational restructuring.
Full-year 2025 outlook remains positive, with a focus on returning all businesses to profitability, strengthening the balance sheet, and optimizing cash generation.
**Management Commentary**
CEO Ian Hillman emphasized the positive results despite economic challenges, attributing success to the strengthened product portfolio and dedicated employees. The focus remains on profitability, balance sheet improvement, and cash generation.
**Financial Position**
Net assets stood at **£12.06 million** as of October 31, 2025.
Net debt increased to **£13.84 million**, partly due to drawdowns under a new invoice discounting facility to fund working capital for Arrow Film & Foil Converters Ltd.
**Dividend**
No interim dividend was declaredas the Board prioritizes investmentdebt reductionand cash generation.
**Conclusion**
Coral Products PLC demonstrated robust financial and operational progress in H1 2026, with significant improvements in revenue, profitability, and strategic initiatives. The Group remains optimistic about its full-year performance, focusing on sustainable growth and operational excellence.