10 March 2009 08:51 [Source: ICIS news]
SINGAPORE (ICIS news)--UK-based Zotefoams said on Tuesday its 2008 net profits grew a marginal 3% year-in-year in 2008 to ₤3m (€3.3m/$4.2m) on the back of healthy sales.
Total revenue increased by 10% to ₤34.8m last year from ₤31.6m in 2007, with pre-tax profits up 17% to ₤3.9m, the company said.
“In what were difficult trading conditions, particularly towards the latter part of the year, Zotefoams demonstrated good resilience to record a robust set of financial results,” company chairman Nigel Howard said in a statement.
“Notwithstanding the likelihood that 2009 will be a challenging year, the board remains positive about the longer term prospects for the business,” said Howard.
Zotefoams is a polyolefin foam producer with head office based in the Croydon, ?xml:namespace>
($1 = ₤0.72 ; $1 = €0.79 ; €1 = £1.09)
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections