ZOTEFOAMS PLC — Earnings Release 2017

Jan 10, 2018

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 4217B

Zotefoams PLC

10 January 2018

Zotefoams plc

("Zotefoams" or "the Company")

Trading Update

10th January 2018 - Zotefoams, a world leader in cellular materials technology, today provides a trading update following the Company's financial year end on 31 December 2017.

Zotefoams is pleased to report continued strong trading through to the end of the year, continuing the trend of the first three quarters.

·      Full year revenues expected to be ahead of current market expectations

·     Adjusted profit before tax and exceptional items for the year ending 31 December 2017 expected to be at the top end of the range of market expectations

·   US plant construction completed, commissioning has begun with expected hand-over to manufacturing in February

The Company expects to announce preliminary results for the year ended 31 December 2017 on Tuesday 13 March 2018.

Commenting on the update David Stirling, Group CEO of Zotefoams, said: 

"We are delighted to report robust growth across all business units during 2017 and, with good progress in the development of our portfolio of future opportunities, enter 2018 with a strong order book and confident about the future. We are excited at the commissioning of our new capacity in Walton, USA, as well as the continued commitment to growth demonstrated by our previously announced £12m investment to boost manufacturing capacity at our Croydon, UK, facility."

- Ends -

Enquiries:

Zotefoams plc	+44 (0) 208 664 1600
David Stirling, Group CEO
Gary McGrath, Group CFO
IFC Advisory	+44 (0) 203 934 6630
Graham Herring Miles Nolan

About Zotefoams plc

Zotefoams plc (LSE - ZTF) is a world leader in cellular materials technology. Using a unique manufacturing process with environmentally friendly nitrogen expansion, Zotefoams produces and sells lightweight AZOTE® polyolefin and ZOTEK® high-performance foams for diverse markets worldwide.  Zotefoams uses its own cellular materials to manufacture T-FIT® advanced insulation for demanding industrial markets. In addition, Zotefoams owns and licenses patented MuCell® microcellular foam technology, developed specifically for extrusion applications, from a base in Massachusetts, USA to customers worldwide.

Zotefoams is headquartered in Croydon, UK, with additional manufacturing sites in Kentucky and Oklahoma, USA (foam products manufacture and conversion), Massachusetts, USA (MuCell Extrusion) and Jiangsu Province, China (T-FIT®).

www.zotefoams.com

AZOTE®, ZOTEK®, T-FIT® are registered trademarks of Zotefoams plc

MuCell® is a registered trademark of Trexel Inc.

This information is provided by RNS

The company news service from the London Stock Exchange

END

TSTZMGGMGLZGRZZ