Last checked at 10 Dec 2009 14:30
10 December 2009
Zotefoams plc
("Zotefoams" or "the Company")
Trading Update
Zotefoams, which manufactures and sells high-performance foams, today provides a trading update prior to the Company's financial year end on 31 December 2009.
Since our Interim Management Statement dated 23 October 2009 our business has performed ahead of internal expectations. The Board now expects profit before tax and exceptional items for the year ended 31 December 2009 to exceed market expectations.
Sales volumes in the final quarter of the year are expected to be similar to the final quarter in 2008. Sales values are expected to be approximately 5% higher than the comparable quarter in 2008, benefitting from a more favourable euro/sterling exchange rate and a higher percentage of our HPP (high-performance polymer) foams. Prices for LDPE, our major raw material, have remained relatively stable in the second half of 2009.
The Company intends to announce its preliminary results for the year ended 31 December 2009 on Tuesday 9 March 2010.
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.