Zotefoams blowing profit bubble
The foam products maker, Zotefoams, says a strong order book and significant cash in the bank should lead to a strong 2012.
The foam products maker, Zotefoams, says a strong order book and significant cash in the bank should lead to a strong 2012.
Its full year 2011 results show that profit before tax increased by 16% to £5.47m (2010: £4.70m excluding exceptional items), a doubling in the last 5 years.
By the end of December net funds were £1.92m, compared to £1.86m at the end of 2010.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Sales increased by 11% to £44.21m (2010: £39.88m), while like-for-like sales increased by 9% driven by strong volume growth in North America and Europe.
Zotefoams' shares had gained 6.7% by 11:07am. The stock is 22% ahead of its value at the beginning of 2011.
BS
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published