AGM Statement

Coral Products PLC, a specialist in the design, manufacture and supply of specialist and technical plastic products based in Wythenshawe, Manchester, is holding its Annual General Meeting today. The Chairman will make the following statement:

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"The Group has continued to build on the positive and progressive momentum referenced in our trading update of 7 July 2025 and again in the full year results announcement of 31 October 2025. Across all three operating divisions - Flexibles, Rigid and Distribution with Group sales revenue (Including intercompany sales) for the six month period to 31 October 2025 is expected to be more than 30% ahead of the same period in 2024, together with a strong underlying operating profit in line with management expectations.

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The strong performance year to date has been delivered despite a challenging UK market and economy where underlying demand levels remain subdued across several of our market segments, while simultaneously managing a number of legacy issues across the Group.

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Revenue growth in the first six months has been driven by both the Arrow acquisition in April 2025 and new business wins within our established operations, which will support revenues in the second half of the current financial year ("H2"). Operational profit improvements have been delivered through further asset utilisation, continued margin enhancement and the integration of products to provide a broader, more co-ordinated offering, all of which create further improvement opportunities.

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Flexible Division:

The Flexible division has performed well during the period and has seen the successful integration of Arrow Film & Foil Converters Ltd, acquired in April 2025, into the wider Flexible Division. The immediate focus for the Arrow business has been sustainable profitability rather than revenue. Whilst the Arrow business has delivered revenue in line with management expectations, we have successfully created a profitable platform that now allows us to focus on optimising capacity and unlocking further growth in H2 and beyond.

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The Flexible Division experienced a modest impact to both sales and margin in September and October 2025 following a customer insolvency, but this has not materially affected the Group performance and the division remains well placed to continue progress into H2 and beyond.

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Rigid Division:

The Rigid division has recorded solid revenue growth versus the same period last year, with gross margin improving steadily from operational efficiencies and strengthened cost controls. Substantive progress has been made to improve the financial performance of the Manplas Ltd with further improvements expected in H2. The Rigid Division remains well-placed to deliver in line with management expectations in H2 and beyond.

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Distribution Division:

The Distribution division continues to perform well, with deeper customer penetration and increased cross-selling across the wider Group customer base. The division remains a key part of Coral's integrated value proposition, helping to deliver the short lead time expectations and service breadth.

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Outlook

Given the strong first-half performance across all divisions, the Board remains encouraged by the integrated product offering driving a strengthened pipeline and enhanced business resilience through diversity. Whilst the Board remains mindful of the macroeconomic environment and continued headwinds faced by UK manufacturing businesses, it is confident that the business is focused on the right priorities and therefore expects to deliver a full-year result in line with management expectations.

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The Board remains committed to delivering above-market profitable growth and further strengthening Coral's role as a trusted, value-added UK packaging and engineered parts partner.

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The Directors of the Company take responsibility for this announcement.