Trading Update

RNS Number : 1164V

Zotefoams PLC

09 January 2013

 



9 January 2013

Zotefoams plc

("Zotefoams" or "the Company")

Trading Update

9 January 2013 - Zotefoams, which manufactures and sells high-performance foams, today provides a trading update in relation to the Company's financial year end on 31 December 2012

Since the Interim Management Statement dated 26 October 2012, the business has continued to perform in line with management expectations.

Fourth quarter sales increased by approximately 8% (12% in constant currency) compared to the same period last year.  Our High-Performance Polymers ("HPP") business accounted for approximately half the absolute growth with both the MuCell Extrusion LLC and Polyolefin foam segments also contributing positively compared to 2011.

Sales growth for the year is expected to be approximately 6% (10% in constant currency) over 2011, driven by an increase of approximately 50% in sales in our HPP business segment and 3% sales volume growth in our Azote® polyolefin foams business.  The euro-denominated price of low density polyethylene (LDPE), our major raw material, was at a similar average price compared to last year.

The Board therefore remains confident of an outcome for 2012 in line with market expectations.

The Company intends to announce its preliminary results for the year ended 31 December 2012 on Tuesday, 5 March 2013.

Enquiries:
Zotefoams plc	0208-664-1600
David Stirling, Managing Director
Clifford Hurst, Finance Director
FTI Consulting	0207-831-3113
Ben Brewerton, John Dineen, Victoria Foster Mitchell

About Zotefoams plc

Zotefoams plc (LSE - ZTF) is a world leader in cellular material technology.  Using a unique manufacturing process with environmentally friendly nitrogen expansion, Zotefoams produces lightweight foams in Croydon, UK and Kentucky, USA for diverse markets worldwide through its global sales force.  Zotefoams also owns and licenses patented MuCell® microcellular foam technology from a base in Massachusetts, USA to customers worldwide and sells T-Tubes® advanced insulation systems made from its patented ZOTEK® fluoropolymer foams.

www.zotefoams.com

 

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