Last checked at 22 Oct 2010 07:00
22 October 2010
Zotefoams plc
("Zotefoams" or "the Company")
Interim Management Statement for the Quarter Ended 30 September 2010
Zotefoams, which manufactures and sells high-performance foams, announces its Interim Management Statement for the quarter ended 30 September 2010.
In the quarter ended 30 September 2010, percentage sales growth against the comparable period in 2009 continued at a similar rate to the 26% increase experienced in the first half of 2010.
Overall, sales in the quarter in our polyolefin segment improved in all major geographical markets compared with the quarter to September 2009. In our HPP (high-performance polymers) segment, sales in the quarter were significantly ahead of last year, driven by demand for our ZOTEK® F fluoropolymer foams and T-TubesTM high-performance insulation products.
Profit for the quarter benefited from the increased sales activity, although this was partially offset by polymer prices at higher levels than experienced in the comparable period in 2009.
Currently we are experiencing good demand and we have visibility over orders into December. The Board therefore expects profit before tax and exceptional items for the year ending 31 December 2010 to be in line with market expectations.
Enquiries: Zotefoams plc 0208-664-1600 David Stirling, Managing Director Clifford Hurst, Finance Director
Financial Dynamics Limited 0207-831-3113 Ben Brewerton/John Dineen
About Zotefoams plc
Zotefoams plc (LSE - ZTF) is the world's leading producer of light weight, cross-linked, closed-cell block foams. These pure, consistent foams are manufactured using a unique environmentally friendly nitrogen expansion technology. Zotefoams was the first to develop cross-linked polyolefin foams and is increasingly using its production technology to manufacture foamed materials based on high-performance polymers. Based in Croydon, UK, Zotefoams also manufactures in Kentucky, USA and markets its products worldwide through a global sales network.