Friendly foams froth
Zotefoams – the manufacturer of a range of polyolefin foams used in industrial sectors from aerospace to packaging and from medical products to ice hockey goalie protection – announced today (21 December) that it was on course to hit its revenue and profit targets for the year having grown sales by one fifth.
The Croydon-based firm, which also manufactures at a wholly owned subsidiary in the USA, uses a unique, environmentally friendly, clean, non-contaminating, nitrogen expansion production process, said in a trading update that the business had again performed in line with expectations, with sales in the fourth quarter anticipated to be approximately 7% ahead of the same period in 2009. As a result, Zotefoams expects pre-tax profit for the year to hit market expectations.
Overall sales growth for the year is expected to exceed 20% with strong performance being seen across all major geographic markets, particularly in Asia.
In 2009, turnover was £31.8 million producing a pre-tax profit of £2.7 million.
