Trading Statement

RNS Number : 4445K

Zotefoams PLC

19 December 2008

 



Zotefoams plc

('Zotefoams' or 'the Company')

Trading Update

Zotefoams, which manufactures and sells high-performance foams, today provides a trading update prior to the Company's financial year end on 31 December 2008.

During 2008 the business has performed in line with management expectations and for the year as a whole we expect year-on-year profit growth in line with market expectations. Overall sales growth, benefiting from the strength of the euro and the US dollar against Sterling, is expected to be around 9%. 

With the current uncertain economic environment our forward order book has more limited visibility than is normal. However, prices for LDPE, our major raw material, have recently declined sharply from the high levels experienced for the majority of 2008 and the current strength of the Euro and US dollar is more favourable for our business than the average rates experienced during 2008. Whilst we expect 2009 to be a challenging year, we remain committed to the growth of Zotefoams and believe that the diversity of our business and strength of our products and brands leave us relatively well positioned for the future.

The Company intends to announce its preliminary results for the year ended 31 December 2008 in mid-March 2009.

Enquiries:

Zotefoams plc 0208-664-1600

David Stirling, Managing Director

Clifford Hurst, Finance Director

Financial Dynamics Limited 0207-831 3113

Ben Brewerton / John Dineen

About Zotefoams

Zotefoams (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. 

 

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