Zotefoams performance in line with expectations

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Zotefoams has issued a trading update – according to the firm, fourth quarter sales increased by approximately 8% compared with the same period last year, in line with management expectations.

“Our High-Performance Polymers (HPP) business accounted for approximately half the absolute growth with both the MuCell extrusion and polyolefin foam segments also contributing positively compared to 2011,” the company said in a statement.

“Sales growth for the year is expected to be approximately 6% up on 2011, driven by an increase of approximately 50% in sales in our HPP business segment and 3% sales volume growth in our Azote polyolefin foams business.”

The board remains confident of an outcome for 2012 in line with market expectations.