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1 Jul 2008 07:00
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1 July 2008
Zotefoams plcΒ ("Zotefoams" or "the Company")
Trading Update
Zotefoams plc announces its trading update for the six months ending 30 June 2008.Β
In line with comments made in its AGM statement on 8thΒ May 2008, the Company has experienced a strongΒ first halfΒ Β in both sales and profits.
In Polyolefin foams,Β we have experiencedΒ strongΒ overallΒ sales growth enhanced by the strength of the EuroΒ overΒ theΒ period.
In our emerging High-Performance PolymersΒ (HPP)Β segment salesΒ are below levels experienced at this point last year. We have been notified byΒ Technifab Inc., one of our customers,Β that the planned start date of theirΒ aviation window gasket application has been delayed,Β otherwise theΒ HPPΒ business continues to progress. Although timing of revenues remains difficult to predict,Β the CompanyΒ isΒ confidentΒ that the growth prospects from this segment are very exciting.
Overall,Β ZotefoamsΒ is trading well and theΒ Board remains confidentΒ of the Company's future prospects.
The Company will announce its interim results on Tuesday 5 August 2008.
Enquiries:Β
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Zotefoams plcΒ |
0208-664-1600 |
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David Stirling, Managing Director |
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Clifford Hurst, Finance DirectorΒ |
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Financial Dynamics LimitedΒ |
0207-269-7279 |
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Ben BrewertonΒ |
About Zotefoams plcΒ
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 inΒ Croydon,Β UK, Zotefoams also manufactures inΒ Kentucky,Β USAΒ and markets its products worldwide through a global sales network.Β
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