10th Aug 2021 14:25
Zotefoams PLC - cellular materials technology company based in Croydon, England - Reports revenue of GBP48.2 million in the six months ended June 30, up 39% from GBP34.6 million in that period a year prior. Sees pretax profit rise 49% year-on-year to GBP4.0 million in the first half from GBP2.7 million. Notes a recovery of sales for its major products with high-performance product sales up 66% to GBP19.6 million in the first half from GBP11.8 million, polyolefin foams sales up 24% to GBP27.3 million from GBP22.0 million and MuCell Extrusion LLC sales reaching GBP1.3 million from GBP900,000.
Issues interim dividend of 2.10p, up 3.4% from 2.03p the previous year. Reports "strong order book" for the second half. Expects rising raw material prices and operational disruption to freight transport to continue for the remainder of 2021. Anticipates a return to more normal conditions early in 2022.
Current stock price: 456.00 pence, up 2.7% on Tuesday afternoon
Year-to-date change: up 20%
By Scarlett Butler; [email protected]
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