13th May 2015 07:49
LONDON (Alliance News) - Cellular material technology company Zotefoams PLC on Wednesday said first-quarter trading was in line with its expectations and said its finance director is set to step down next year.
Zotefoams Chairman Nigel Howard, in a statement due to be delivered at its annual general meeting, said its overall trading performance in the three months to the end of December was in line with its expectations, with sales growth for its Polyolefin foams, high-performance products and MuCell Extrusion LLC business and strong forward order books in all units.
Howard added the company's investment in its Walton, Kentucky production facility in the US is progressing on schedule.
In addition, Howard said finance director Clifford Hurst has indicated he intends to step down from the business in 2016. The company will start the recruitment process for his replacement imminently, Howard added.
"Whilst it is still early in the year and we are mindful of the potential impact of economic conditions we continue to expect 2015 to be another year of progress and remain confident about the long-term prospects for the business," Howard said.
Zotefoams shares were up 0.2% to 289.00 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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