Zotefoams PLC (LSE:ZTF) shares rose 20% after the company announced record interim results and a new joint venture in Vietnam.
For the first half of 2025, revenue grew 9% to £77.4 million, while profit before tax increased 37% to £11.4 million.
Gross margin improved to 34.6%, and basic earnings per share climbed 55%. The company also reported strong cash generation and reduced net debt.
In a separate announcement, the group, whose foams are used in aerospace, unveiled a partnership with Seoheung Co, a footwear manufacturing specialist group.
Seoheung will invest $10 million for an initial 17.5% stake in a new manufacturing facility in Vietnam, with the option to increase its share.
The facility, expected to be commissioned in late 2026, will strengthen Zotefoams’ presence in Asia and support its move into advanced 3D foam preforms for athletic footwear.
The shares rose 55.3p to 333.3p.