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Zotefoams PLC (ZTF)

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Wednesday 10 January, 2018

Zotefoams PLC

Trading Update

RNS Number : 4217B
Zotefoams PLC
10 January 2018
 

 

Zotefoams plc

("Zotefoams" or "the Company")

 

Trading Update

 

 

10th January 2018 - Zotefoams, a world leader in cellular materials technology, today provides a trading update following the Company's financial year end on 31 December 2017.

 

Zotefoams is pleased to report continued strong trading through to the end of the year, continuing the trend of the first three quarters.

 

·      Full year revenues expected to be ahead of current market expectations

 

·     Adjusted profit before tax and exceptional items for the year ending 31 December 2017 expected to be at the top end of the range of market expectations

 

·   US plant construction completed, commissioning has begun with expected hand-over to manufacturing in February

 

The Company expects to announce preliminary results for the year ended 31 December 2017 on Tuesday 13 March 2018.

 

 

Commenting on the update David Stirling, Group CEO of Zotefoams, said: 

"We are delighted to report robust growth across all business units during 2017 and, with good progress in the development of our portfolio of future opportunities, enter 2018 with a strong order book and confident about the future. We are excited at the commissioning of our new capacity in Walton, USA, as well as the continued commitment to growth demonstrated by our previously announced £12m investment to boost manufacturing capacity at our Croydon, UK, facility."

 

- Ends -

 

 

Enquiries:

 

Zotefoams plc

+44 (0) 208 664 1600

David Stirling, Group CEO

 

Gary McGrath, Group CFO

 

 

 

IFC Advisory

+44 (0) 203 934 6630

Graham Herring

Miles Nolan

 

 

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.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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