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Zotefoams PLC on Tuesday backed annual guidance, supported by good visibility of confirmed orders, and despite a drop in third quarter sales. The Croydon, London-headquartered foams, insulation, seals and interior trims provider said revenue fell 3.8% to £38.2 million in the quarter to the end of September from £39.7 million a year ago. Zotefoams noted third quarter performance was against a ‘very strong prior year comparator’ and followed a record first half. Europe, Middle East & Africa revenue reduced 1% in the quarter, North America revenue was down 16%, following a strong first half, while Asia saw ‘good growth’. In the year-to-date, reported revenue rose 4.5% to £115.7 million from £110.7 million, or by 7% at constant currency. Looking ahead, Zotefoams said: ‘The board is confident in the group’s ability to sustain positive momentum, with good visibility of confirmed orders across most business units for the remainder of the final quarter, underpinning a continued expectation of delivering mid-single-digit growth for the year as a whole.’ It expects results for 2025 to be in line with current market expectations for revenue of £154.4 million and adjusted pretax profit of £20.5 million. In 2024, Zotefoams reported revenue of £147.8 million and adjusted pretax profit of £15.3 million. ‘In what remain mixed market conditions, I am pleased that the business has continued to trade in line with our expectations, whilst also making good progress with our refreshed strategy,’ said Chief Executive Ronan Cox. ‘Looking ahead, our order book provides good visibility for the remainder of 2025 and as a result, the board remains confident in its ability to meet market expectations for the full year,’ he added. Shares in Zotefoams fell 11% to 400.00 pence each in London on Tuesday afternoon. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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