Third Quarter Trading Update

RNS Number : 6776N

Zotefoams PLC

28 October 2016

 

Zotefoams plc

("Zotefoams" or "the Company")

Third Quarter Trading Update

28^th October 2016 - Zotefoams, a world leader in cellular material technology, today provides a trading update for the third quarter ended 30 September 2016.

Zotefoams saw third quarter sales grow ahead of the comparative period last year, buoyed by continued favourable currency and particularly good growth in HPP and North American polyolefin foams.  This was offset somewhat by lower polyolefin foam sales in the UK and continental Europe. The Company has entered the fourth quarter with a very strong order book.

The Company's investment at its facility in Walton, Kentucky, USA, which will increase Zotefoams' global capacity, remains on target to be operational in H1 2017.

Whilst being mindful of the operational risk to delivery of the very strong order book in the final quarter and the potential consequences of currency volatility, Zotefoams continues to expect another year of positive progress, with performance in line with management expectations.  The Company also remains confident about the long-term prospects for the business.

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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 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.  Zotefoams also owns and licenses patented MuCell® microcellular foam technology from a base in Massachusetts, USA to customers worldwide and sells T-FIT® advanced insulation systems.

www.zotefoams.com

 

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