Coral Products, a renowned plastics manufacturer based in Wythenshawe, has projected a second consecutive annual loss for 2025. The company cites ongoing economic challenges as the primary cause.
Despite difficult trading conditions that have persisted from 2024 into autumn 2025, Coral remains optimistic about future market recovery. The firm plans strategic investments to bolster its manufacturing capabilities.
Coral Products has issued a trading update revealing that trading conditions have remained challenging into the autumn season. The company reported a decline in revenues, from £35.2 million to £31 million, and an unfortunate pre-tax loss of £947,000, a significant drop from the previous year’s profit of £1.3 million.
Additionally, reduced consumer spending has impacted the FMCG and automotive markets, key areas for Coral’s sales. This decline has influenced the firm’s revenue expectations.
Despite not losing long-term customers, Coral admits the markets served by these customers have seen demand shrink significantly over the summer months, with limited short-term recovery prospects.
Internally, Coral has seen success with EcoDeck manufacturing investments, launched in June 2024, which now operate round-the-clock. This has notably improved gross margins by 10%.
Lance Burn, Coral’s CEO, emphasizes the company’s financial resilience. He states, ‘The new manufacturing revenues, though originally intended as supplementary, are now essential to offset core revenue declines.’
The focus on enhancing overall efficiency remains a priority, with Coral positioned to leverage market recovery opportunities.
While facing near-term hurdles, Coral Products is strategically positioning itself for an anticipated market upturn. The company’s investments and operational adjustments highlight a commitment to resilience and growth.
Despite current setbacks, Coral Products is prepared to capitalise on market recovery, supported by strategic investments and operational resilience.
The company’s leadership under CEO Lance Burn continues to foster an environment poised for future success, ensuring Coral’s readiness for a return to demand.