Zotefoams Share Discussion Threads

[battlebus2] 09/5/2011 13:29

Another tick up with AGM THURSDAY.

[battlebus2] 18/4/2011 08:09

Up nicely this morning with AGM coming up an opportunity for a pleasing update.

[battlebus2] 15/4/2011 14:41

Well parity restored back to the placing price almost. A nice little profit on my top up already.

[battlebus2] 12/4/2011 21:48

Unfortunately we are going in the wrong direction after the placing and verging on top up time again.

[topvest] 31/3/2011 21:56

Yes, that explains the weakness following the results; should be onwards and upwards now this is out of the way!

[battlebus2] 31/3/2011 07:46

Well we are now the owners of MUCELL with a full placing at £1.50 a share. Much better than debt imv and certainly great for the future prospects for growth.

[battlebus2] 18/3/2011 15:30

Up again and nicely past 1.50.

[battlebus2] 18/3/2011 08:16

Pushing upwards again could prove to hit new highs very quickly. Knew this was too cheap at 1.20!

[kimball808] 14/3/2011 12:24

this is very unexpected on a pretty much red day...:-)

[battlebus2] 14/3/2011 08:08

Positive start today given conditions.

[battlebus2] 11/3/2011 19:17

Zotefoams boosted by recovery

Created: 9 March 2011 Written by: Nigel Bolitho

Zotefoams makes foam blocks from low density polyethylene (LDPE) and business looks good. Indeed - adjust for an exceptional accounting gain, relating to the consolidation of a 30 per cent stake in US company, McCull Extrusion - and pre-tax profit rose 49 per cent in 2010 to £4.7m.

What's more, overall sales volumes rose 26 per cent year-on-year - which kept at bay a one-third rise in LDPE prices, without posting any price increases.

Turnover in the group's core polyolefin business rose by an especially impressive 22 per cent in the period to £36.8m, with the balance coming from sales of high-performing insulation that's used mainly in aircraft interiors and clean rooms.

Zotefoams saw a jump in rest of the world sales - mainly in Asia - from £1.67m to £3.12m, while decent demand from northern Europe, led by Germany, increased European sales from £15.4m to £19.3m.

The 2010 results also benefited from a low tax charge, thanks to US tax losses. Broker Evolution Securities expects sales of £43m for 2011, and adjusted pre-tax profits of £5.2m, giving EPS of 9.5p.

TIP UPDATE

Buy

Raw material costs need watching. But the group boasts a decent cash pile and, reflecting a recovery in economic conditions, is making decent progress.
There's a reasonable dividend yield, too and the shares - trading on about 15 times expected earnings - don't fully reflect the long-term growth prospects as conditions continue to improve.

Buy.

Last IC view: Buy, 120p, 4 August 2010
--------------------------------------------------------------------------------

[akhtar8] 09/3/2011 11:37

GCI comment...

[topvest] 09/3/2011 11:27

Yes, all quiet - should move higher before the xd date + may get tipped on the back of these results I suspect. The dividend increase is a very bullish signal as the dividend has been stuck at the same level for years.

[battlebus2] 09/3/2011 09:11

Surprised that there appears to be little reaction to results this morning.

[battlebus2] 08/3/2011 07:39

Yep well worth £1.50! Dividend up and imv likely to continue to rise. One of my favourite lines - We enter 2011 with a strong pipeline of orders. Even better was the new product Pebaxfoam for sports which they recieved the first order for..

[kimball808] 08/3/2011 07:15

very good performance for the year...beats expectations all round..58% increase in cash, reduced debt... confident outlook... v happy

[battlebus2] 07/3/2011 13:41

Ticking up.

[battlebus2] 07/3/2011 10:30

A few buyers nibbling today. Shouldn't be any surprises tomorrow as the trading update in December said trading was inline.

[battlebus2] 04/3/2011 17:11

Roll on Tuesday for results!

[battlebus2] 01/3/2011 09:54

Took a few more at 1.266 probably not many left at that price as the quote is 130.

[battlebus2] 28/2/2011 13:51

Nice rise so far today i think 1.40 would be a reasonable target before results.

[battlebus2] 28/2/2011 11:48

Results on the 8th March just as it looks a bit cheap right now even with the recent oil price rises.

[battlebus2] 14/2/2011 18:47

Shroders selling down a little maybe responsible for the shares falling. they still own 11%.

[cockneyrebel] 13/2/2011 11:53

:-)

Got to enjoy it, that's what you do it for :-)

CR