24th May 2023 11:01
Zotefoams PLC - Croydon, England-based cellular material technology producer - Notes "strong" trading in the four months to April 30, with sales up by 15% against the year prior and continued revenue growth benefiting from "pricing, operational efficiency initiatives and a stronger US dollar." Polyolefin foams sales grew 14%, high-performance products sales increased by 19%. Anticipates further sales growth in HPP portfolio and says full-year expectations remain unchanged.
Chief Executive Officer David Stirling says: "The business has opportunities for growth in a number of HPP markets, and better margins in Polyolefin foams reflect pricing and cost management actions taken over the past year. With good cash generation and management, the business is well-placed for further growth."
Current stock price: 373.64 pence, up 2.4%
12-month change: up 31%
By Sabrina Penty, Alliance News reporter
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