Full Year Trading Update
27 January 2022 – Zotefoams, a world leader in cellular materials technology, today provides a trading update (unaudited) in respect of its financial year ending 31 December 2021 (“FY 2021”).
Further to the trading update of 17 December 2021, we expect to report Group revenues for the year of approximately £100m and profit before taxation, in line with market expectations, of approximately £7m. This has been achieved as we continued to focus on maintaining high customer service levels in the very challenging supply chain conditions experienced at the end of last year.
Commenting on the update David Stirling, Group CEO of Zotefoams, said:
“Despite a very challenging backdrop at the end of 2021, we are pleased to have delivered strong top-line growth while meeting profit expectations for the year and our customers’ needs.
“I am very pleased at the progress our team has made in developing the ReZorce barrier technology and the plans for increased investment are fully justified given this and the potential opportunity in sustainable barrier packaging for the circular economy.”