1st Jul 2008 07:00
1 July 2008
Zotefoams plc ("Zotefoams" or "the Company")
Trading Update
Zotefoams plc announces its trading update for the six months ending 30 June 2008.
In line with comments made in its AGM statement on 8th May 2008, the Company has experienced a strong first half in both sales and profits.
In Polyolefin foams, we have experienced strong overall sales growth enhanced by the strength of the Euro over the period.
In our emerging High-Performance Polymers (HPP) segment sales are below levels experienced at this point last year. We have been notified by Technifab Inc., one of our customers, that the planned start date of their aviation window gasket application has been delayed, otherwise the HPP business continues to progress. Although timing of revenues remains difficult to predict, the Company is confident that the growth prospects from this segment are very exciting.
Overall, Zotefoams is trading well and the Board remains confident of the Company's future prospects.
The Company will announce its interim results on Tuesday 5 August 2008.
Enquiries:
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Zotefoams plc |
0208-664-1600 |
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David Stirling, Managing Director |
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Clifford Hurst, Finance Director |
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Financial Dynamics Limited |
0207-269-7279 |
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Ben Brewerton |
About Zotefoams plc
Zotefoams plc (LSE - ZTF) is the world's leading producer of light weight, cross-linked, closed-cell block foams. These pure, consistent foams are manufactured using a unique environmentally friendly nitrogen expansion technology. Zotefoams was the first to develop cross-linked polyolefin foams and is increasingly using its production technology to manufacture foamed materials based on high-performance polymers. Based in Croydon, UK, Zotefoams also manufactures in Kentucky, USA and markets its products worldwide through a global sales network.
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