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('Zotefoams' or the 'Company') Interim Results for the Six Months Ended 30 June 2012 Highlights · Revenue up by 9.9 % to £24.81 million (2011: £22.56 million) · Profit before tax increased by 9.5% to £3.59 million (2011: £3.28 million) · Basic earnings per share increased by 10.6% · High-Performance Polymer ('HPP') sales up by 80% to £1.72 million (2011 restated: £0.96 million) · Net cash from operating activities of £3.71 million (2011: £2.54 million) · Interim dividend increased to 1.7 pence per share (2011: 1.6 pence)
http://www.investegate.co.uk/Article.aspx?id=201208070702014302J
It added that its development pipeline of new projects at MuCell Extrusion is growing well, although revenue from existing licensees is anticipated to be below the same period last year. "We expect good progress in conversion of additional signed MEL licences over the coming years as a consequence of the investments we are making in this business," Zotefoams said. "We remain confident about the long-term prospects of the business," the group concluded
Zotefoams, a foam products maker, said it experienced good revenue growth in the first half of 2012, with sales up roughly 10 per cent from the same period last year. The group, which makes foam products used by the marine, military, sports, packaging, transport, healthcare, toys and building markets, added that it is trading in line with company expectations for the full year. Zotefoams said it remains mindful of the potential impact of economic conditions and movements in currency rates however with a strong order book, it continues to expect 2012 to be yet another year of progress. Its Azote polyolefin foam business grew in all major markets with substantial growth in Asia alongside a robust performance in both the UK and North America. Sales at its high-performance polymer foams business is significantly ahead of the same period last year, driven by growth in aviation applications from North America, it said.
CONT The development pipeline of new projects at MuCell Extrusion LLC ("MEL") is growing well from a small base, although revenue from existing licensees is anticipated to be below the same period last year. We expect good progress in conversion of additional signed MEL licences over the coming years as a consequence of the investments we are making in this business. Overall, the Company is trading in line with the Board's expectations for the full year with a strong order book and, while we are mindful of the potential impact of economic conditions and movements in currency rates, we continue to expect 2012 to be yet another year of progress and remain confident about the long-term prospects of the business. The Company will announce its interim results for the six months ended 30 June 2012 on Tuesday, 7 August 2012.
Trading Update 9 July 2012 - Zotefoams, which manufactures and sells high-performance foams, today announces its trading update for the six months ended 30 June 2012. Zotefoams has experienced good revenue growth in the first half of 2012 with an increase in reported sales of approximately 10% on the same period last year. In constant currency our Azote® polyolefin foam business grew in all major markets with substantial growth in Asia and a particularly pleasing performance in both the UK and North America. Sales in our High-Performance Polymer foams business are significantly ahead of the same period last year, driven by growth in aviation applications from North America. The average price paid for low density polyethylene ("LDPE"), our major raw material, was lower than the same period in 2011. However, the benefit of this and the sales growth was somewhat mitigated by the negative impact of a weaker euro and higher energy costs.
http://www.investegate.co.uk/Article.aspx?id=201207090700051636H
N+1 Brewin initiated coverage on foam manufacturer Zotefoams (ZTF) with an "add" recommendation and 200p price target. The broker recognises the share price has been a 'stunning performer' in the year to date, trading more than 50% higher, but Brewin continues to see long-term value in the group. Its ambitious management team, consistent financial track record - which has seen profits double in the past five years - and conservative forecasts leave the broker bullish about the stock
People recognising the value in this company now!
little tick up again today
Solid figures and they are very positive about the coming year
Commenting on the results, Nigel Howard, Chairman, said: I am pleased to report our 2011 profit before tax increased by 16% to £5.47m (2010: £4.70m excluding exceptional items), which means that this profit measure has doubled in the last five years, equating to a compound annual growth rate of 15%. Moreover, we have achieved this whilst maintaining a strong balance sheet, with net funds of £1.92m at the end of 2011 (2010: net funds of £1.86m). We begin 2012 with a strong order book for both Azote® polyolefin foams and our portfolio of HPP products. Following on from a record sales year in 2011, orders for Azote® foams for the first quarter are well ahead of the comparable period last year. The outlook for our HPP foams is even more promising with confirmed orders for 2012 already ahead of HPP sales in 2011. We are of course influenced by global economic factors as well as the uncertainty associated with developing new products and markets. However, we enter 2012 with an exceptionally strong order book, a robust cash position, and the benefits of our considerable investments made in people and products in recent years. The Board is therefore very confident about the prospects for our business and expects 2012 to be another year of further progress.
Continued sales and profit growth Zotefoams plc ("Zotefoams", or "the Group" or "the Company"), the world leader in cellular material technology, today announces its preliminary results for the 12 months ended 31 December 2011. HIGHLIGHTS 2011 • Profit before tax and exceptional items up 16% to £5.47m (2010: £4.70m) • Basic earnings per share excluding exceptional items up 16% to 11.8p (2010: 10.2p) ¹ • Revenue up 11% to £44.21m (2010: £39.88m) • Ownership of MuCell Extrusion LLC ("MEL") increased to 100% • Successful placement of 1.5m shares (additional 4% of share capital) at 150p per share in March 2011 • Net cash of £1.92 million (31/12/10: £1.86m) ² • 5% increase in proposed final dividend to 3.30p per share (2010: 3.15p)³ 2012 • Strong order book: HPP ("High-Performance Polymers") orders already in excess of 2011 HPP sales • Capital expansion plan announced to support anticipated volume growth
http://www.investegate.co.uk/Article.aspx?id=201203060700217381Y
.... results for 2011 are planned to be released on or around 6th March, so I guess we'll know about the dividend then
well all I can say are there are some solid fundamentals here which is not like most of the shares I seem to be in! This could also be a t/o target, a good company in a niche market making money, I bet a bigger fish wouldn't mind some of that, especially with all the cash on certain companies balance sheets these days. T/O is just a hunch and nothing more. Anyway, hope you are still in following another rise. I'm looking at 150p before I review my position here again, G/L
Hello Texas Pete. Am I missing something or is the Evolution £1.75 story nearly a year old? Why elsse the sudden jump in price? Any idea what their dividend is likely to be (based on a guess from previous divs)? I'm on a modest profit at the moment and a tiny bit keen to get out, but as is so often the case, my crystal ball is defective.
Have Evolution called it right?! Another nice rise, but this is a company making money and performing in line with expectations, not many of these about lately!
Up to 175p, nice
Followed this from afar for last couple of years and missed the climb past a quid. Looks like they are still as steady as ever. When the world stops day trading banks these will come back into fashion!
Zotefoams plc ("Zotefoams" or "the Company") Trading Update Zotefoams, which manufactures and sells high-performance foams, today provides a trading update following the Company's financial year end on 31 December 2011. Since the Interim Management Statement dated 24 October 2011, the business has once again performed in line with our expectations. Sales growth for the year has been approximately 9%, mainly driven by an increase in volumes. The average price of LDPE, our major raw material, in 2011 was approximately 13% higher than in 2010. Increases in selling prices and cost management maintained margins, whilst allowing continued investment in our business and the Board therefore expects profit before tax and exceptional items for the year ended 31 December 2011 will be in line with market expectations. Sales of Azote® polyolefin foams for the year were around 10% higher than in 2010. HPP (high-performance polymer) sales were marginally below the levels recorded in 2010, with underlying growth in 2011 replacing a large one-off aerospace programme completed in the prior year. MuCell Extrusion LLC ("MEL") is making encouraging progress with increasing numbers of customer trials of our patented technology. Engineering and equipment revenues, related to timing of project start-ups, fell by approximately $0.6m but license and royalty income grew strongly improving the overall sales mix. We are continuing to increase the resources within MEL to support and deliver the opportunities that we are creating. The Company intends to announce its preliminary results for the year ended 31 December 2011 on Tuesday, 6 March 2012
Interim Management Statement for the Quarter Ended 30 September 2011 Zotefoams, which manufactures and sells high-performance foams, announces its Interim Management Statement for the quarter ended 30 September 2011. In the quarter ended 30 September 2011 sales of polyolefin foams continued the growth trends experienced in the first six months of the year. Demand has been good from all major geographical markets and across end use segments. In our HPP (high-performance polymers) segment, sales in the quarter were ahead of the run rate in the first six months but, due to timing of shipments and delays in the North American aviation market, were below the levels of the very strong third quarter last year. Good underlying progress continues in this segment with particularly high levels of interest in our T-Tubes® advanced insulation products. MuCell Extrusion LLC continues to make encouraging progress with increasing numbers of customer trials of our patented technology. The business is strongly cash generative and we are currently seeking to add resources to address the scale of the opportunity we have created. The profit for the quarter benefited from the increased sales activity. The high raw material prices and supply disruptions reported in the first half of the year have eased although they did partially offset the benefit of the high sales activity in the period. Currently we are experiencing strong demand and an order book which extends into early 2012. The Board therefore remains confident about the outcome for the year.
http://investegate.co.uk/Article.aspx?id=201110240700226647Q
Commenting on the results, Nigel Howard, Chairman said: "The first half of 2011 was a solid period for Zotefoams with strong increases in Polyolefin Foam sales volumes in developed markets driving a 12% rise in pre-tax profit. During the period we came under significant input cost pressures and experienced supply disruptions. I am therefore particularly pleased that we have been able to maintain our first half 17% operating margin in Polyolefins through a combination of price increases and volume growth. We continue our strategy of exploiting our unique manufacturing process in the development of High-Performance Polymers ("HPP"). These products are at an early stage of commercial development and we are encouraged by their development. Finally we are delighted to have brought MuCell Extrusion LLC ("MEL") fully into the Group and are looking to invest further resource in support of our plans for growing this business."
Zotefoams plc Interim Results for the Six Months Ended 30 June 2011 Highlights · Like-for-like revenue up 10% to £21.69 million (2010: £19.64m)1 · Profit before tax increased by 12% to £3.28 million (2010: £2.92m) · Interim dividend increased to 1.6 pence per share (2010: 1.5p) · Ownership of MuCell Extrusion LLC ("MEL") increased to 100% · Successful placement of 1.5m shares (additional 4% of share capital) at 150p per share · Net cash of £2.0 million at 30 June 2011 (£0.2m at 30 June 2010)2 1 Excluding the consolidation of MEL. 2 Net cash/net debt are defined as cash less bank overdrafts and other bank borrowings.