Strong first half for Zotefoams

7th Aug 2012 10:10

Foam products maker, Zotefoams, reported a strong first half with profits and revenues up towards double digits.Profit before tax rose by 9.5% to £3.59m on revenues that were up 9.9 % to £24.81m.Earnings per share increased by 10.6% to 7.3p, while the company declared an increased dividend of 1.7p per share - a rise of 6.25%.The company's Chairman, Nigel Howard, noted the turbulent macroeconomic conditions."During the first half of 2012, traditionally our more profitable trading period, we have delivered a strong performance in profit and operating cash generation," he said."We have made good underlying progress in the higher-growth parts of our business such as HPP and Azote foams in Asia, supported by a robust performance across the wider portfolio of our operations which will stand us in good stead for the future.""With a strong forward order book, the company is trading in line with the board's expectations for the full year and we expect 2012 to be a year of further progress," he added.