Zotefoams gains offset by input hikes

22nd Oct 2010 08:28

High spec foam maker Zotefoams' sales continued to power forward in the three months to September, though raw material prices also rose offsetting some of the higher revenue. "Profit for the quarter benefited from the increased sales activity, although this was partially offset by polymer prices at higher levels than experienced in the comparable period in 2009," the firm said."Percentage sales growth against the comparable period in 2009 continued at a similar rate to the 26% increase experienced in the first half of 2010," it added. Overall, sales in the quarter in our polyolefin segment improved in all major geographical markets compared with last year. High performance polymer sales were also "significantly ahead of last year". "Currently we are experiencing good demand and we have visibility over orders into December. The board therefore expects profit before tax and exceptional items for the year ending 31 December 2010 to be in line with market expectations," the statement concluded.