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Pin to quick picksZotefoams Plc Regulatory News (ZTF)

Share Price Information for Zotefoams Plc (ZTF)

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419.00    -3.00 (-0.71%)
Bid:
420.50
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Spread: 1.50 (0.357%)
Market Cap: £206.07m
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Trading Update

5 Jul 2011 07:00

RNS Number : 7555J
Zotefoams PLC
05 July 2011
 



 

Zotefoams plc

("Zotefoams" or "the Company")

Trading Update

5 July 2011 - Zotefoams, which manufactures and sells high-performance foams, today, announces its trading update for the six months ended 30 June 2011.

Like-for-like sales excluding the consolidation of MuCell Extrusion LLC ("MEL") for the six months ended 30 June 2011 are approximately 10% above that in the same period last year driven by growth in our Azote® polyolefin foam products. Revenues from our High-Performance Polymers for the first half of 2011, which depend on the phasing of relatively large shipments, are at a similar level to that experienced in the first half of 2010.

The integration of MEL, which is trading in line with our expectations, into the Zotefoams Group is now substantially complete. We are planning to invest further resource in this business to support our medium term plans for growth.

As previously reported, raw material prices have been significantly higher than the equivalent period last year with certain supply related issues caused by high levels of market demand for polymer products worldwide. This has impacted margins in the short term but now operational improvements and the benefit of sales price increases are being seen in the business.

Overall, with the benefit of higher sales levels in the first half of the year, the Company is trading in line with expectations and the Board remains confident of the Company's future prospects.

The Company will announce its interim results for the six months ended 30 June 2011 on Tuesday, 2 August 2011.

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 a world leader in cellular material technology. Using a unique manufacturing process with environmentally friendly nitrogen expansion, Zotefoams produces light-weight foams in Croydon, UK and Kentucky, USA for diverse markets worldwide through its global sales force. Zotefoams also owns and licenses patented MuCell® microcellular foam technology from a base in Massachusetts, USA to customers worldwide and sells T-Tubes® advanced insulation systems made from its patented ZOTEK® fluoropolymer foams.

 

www.zotefoams.com

This information is provided by RNS
The company news service from the London Stock Exchange
 
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TSTZMGGNNDLGMZM
Date   Source Headline
12th May 20117:00 amRNSAGM Statement
3rd May 201112:54 pmRNSTotal Voting Rights
13th Apr 20115:01 pmRNSNotice of AGM
4th Apr 201111:04 amRNSDirector/PDMR Shareholding
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8th Mar 20117:00 amRNSFinal Results
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2nd Dec 20109:32 amRNSDirectorate Change
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3rd Aug 20107:00 amRNSHalf Yearly Report
1st Jul 20107:00 amRNSTrading Statement
9th Jun 201012:24 pmRNSHolding in company - amendment
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28th May 20103:31 pmRNSAnnual Information Update
17th May 20107:00 amRNSDirector/PDMR Shareholding
13th May 20103:00 pmRNSResult of AGM
11th May 20107:00 amRNSAGM Statement
7th May 20104:06 pmRNSDirector/PDMR Shareholding
12th Apr 20107:00 amRNSNotice of AGM
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3rd Mar 20102:36 pmRNSHolding(s) in Company
10th Dec 20092:30 pmRNSTrading Statement
23rd Oct 20097:00 amRNSInterim Management Statement
9th Oct 20093:08 pmRNSHolding(s) in Company
8th Sep 20092:13 pmRNSHolding(s) in Company
18th Aug 20091:36 pmRNSDirector/PDMR Shareholding
11th Aug 20095:45 pmRNSHolding(s) in Company
11th Aug 20095:15 pmRNSHolding(s) in Company

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