Trading Update

RNS Number : 6024T

Zotefoams PLC

09 January 2017

 

Zotefoams plc

("Zotefoams" or "the Company")

Trading Update

9^th January 2017 - Zotefoams, a world leader in cellular materials technology, today provides a trading update following the Company's financial year end on 31 December 2016.

Zotefoams has experienced a particularly strong end to the year with sales growth of approximately 13% in the second half, benefitting from growth in HPP sales and favourable FX rates.

During the second half of the year Zotefoams continued to increase resources in Distribution and Administration to support expected growth opportunities in 2017 and beyond. Our investment in global capacity in Walton, Kentucky, USA remains on target to be operational in H1 2017.

The Board expects to report an outcome in line with market expectations for the year ended 31 December 2016.

The Company expects to announce preliminary results for the year ended 31 December 2016 on Tuesday 14 March 2017.

- Ends -

Enquiries:

Zotefoams plc	[phone]
David Stirling, Group CEO
Gary McGrath, Finance Director
FTI Consulting	[phone]
Victoria Foster Mitchell / Simon Conway

About Zotefoams plc

Zotefoams plc (LSE - ZTF) is a world leader in cellular materials technology. Using a unique manufacturing process with environmentally friendly nitrogen expansion, Zotefoams produces and sells lightweight AZOTE® polyolefin and ZOTEK® high-performance foams for diverse markets worldwide.  Zotefoams uses its own cellular materials to manufacture T-FIT^® advanced insulation for demanding industrial markets. In addition, Zotefoams owns and licenses patented MuCell^® microcellular foam technology, developed specifically for extrusion applications, from a base in Massachusetts, USA to customers worldwide.

Zotefoams is headquartered in Croydon, UK, with additional manufacturing sites in Kentucky and Oklahoma, USA (foam products manufacture and conversion), Massachusetts, USA (MuCell Extrusion) and Jiangsu Province, China (T-FIT®).

www.zotefoams.com

AZOTE®, ZOTEK®, T-FIT® are registered trademarks of Zotefoams plc

MuCell^® is a registered trademark of Trexel Inc.

 

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