4th Aug 2015 08:25
LONDON (Alliance News) - Zotefoams PLC Tuesday reported a rise in profit in the first half of 2015 as revenue grew in all areas of its business, and it said it is confident in the long-term prospects of the company.
The cellular material technology company said that its pretax profit in the six months ended June 30 rose to GBP3 million from GBP1.6 million in the same period the year before, as revenue grew 8% to GBP26.6 million from GBP24.7 million.
Zotefoams said that growth was delivered in all segments of its business, with sales rises of 39%, 23% and 5% in MuCell Extrusion LLC, High-Performance Products and Polyolefin, respectively.
Zotefoams will pay an interim dividend of 1.80 pence, up 2.9% on the 1.75p it paid the prior year.
"Zotefoams continues to maintain a consistent strategy and approach. We enter the second half of the year with strong order books and a portfolio of products to deliver further organic growth. We remain mindful of economic uncertainty and the impact of foreign exchange in particular, but are confident in the long-term prospects for the business," Chairman Nigel Howard said in a statement.
Shares in Zotefoams were trading down 1.7% at 295.88 pence Tuesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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