Zotefoams, a world leader in cellular material technology, has announced its unaudited preliminary results for the 2018 period.
The company has seen significant financial progress during the year, with a 16 per cent increase in Group revenue, to a record £81.04 million, and a 31 per cent increase in reported profit before tax, up to £9.86 million.
The year also saw a successful strategic execution, with High-Performance Products now accounting for 27 per cent of Group revenue, following a 67 per cent increase in sales mainly from footwear and aviation applications.
David Stirling, Group CEO, said: “We are seeing the benefits or Zotefoam’ strong portfolio of products, backed by unique technology, across multiple sectors and geographies. 2018 was another record year for Zotefoams and I’m delighted with both the performance and opportunities we are creating.”
“We have experienced a strong start to the year, consistent with our growth expectations across the business as a whole. Investments in recent years in our product portfolio, people and productive capacity have positioned Zotefoams for further growth.”
“Whilst we appear to be in a generally less favourable macroeconomic environment that in 2018, with volatile foreign exchange rates, the Board remains confident about the future prospects for our business and is excited by the opportunities we see for continued progress.”