LONDON (ShareCast) - Zotefoams, a foam products maker, said it experienced good revenue growth in the first half of 2012, with sales up roughly 10 per cent from the same period last year.

The group, which makes foam products used by the marine, military, sports, packaging, transport, healthcare, toys and building markets, added that it is trading in line with company expectations for the full year.

Zotefoams said it remains mindful of the potential impact of economic conditions and movements in currency rates however with a strong order book, it continues to expect 2012 to be yet another year of progress.

Its Azote polyolefin foam business grew in all major markets with substantial growth in Asia alongside a robust performance in both the UK and North America.

Sales at its high-performance polymer foams business is significantly ahead of the same period last year, driven by growth in aviation applications from North America, it said.

It added that its development pipeline of new projects at MuCell Extrusion is growing well, although revenue from existing licensees is anticipated to be below the same period last year.

"We expect good progress in conversion of additional signed MEL licences over the coming years as a consequence of the investments we are making in this business," Zotefoams said.

"We remain confident about the long-term prospects of the business," the group concluded.



CJ

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