Zotefoams PLC (LSE:ZTF) has said it expects profits for this year to beat analysts’ forecasts after the strong performance seen in the first nine months of 2022 continued into the final quarter.
The cellular materials technology company predicted that adjusted pre-tax profit for the year to 31 December 2022 will be ahead of current consensus market expectations of £10.7mln.
The extent of the outperformance will depend on the timing of customer shipments in the final weeks of the year, it noted.
"I am pleased that Zotefoams continues to perform well and deliver excellent growth in both revenue and profitability. Whilst this year has seen considerable challenges in the form of both cost and demand volatility, we have continued to demonstrate resilience in mitigating these, which is testament to Zotefoams' well-established products and experienced team,” said David Stirling, group CEO of Zotefoams, in a statement.
"Whilst we expect a number of the challenges experienced this year to continue into 2023, we are confident in our ability to respond and we continue to see significant opportunity for the group," he added.