Updates

Zotefoams

September 2023

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Zotefoams has reported its H1 results, which look remarkably resilient in the face of the downturn seen in European industrial markets, with sales up 11% to £64m and pretax profit up 30% to a record £7.4m. The reason for the resilience came from the HPP (high performance polymers) side, where the company’s biggest customer is NIKE, to which it is a sole supplier of high performance foams. HPP sales and operating profits increased by 11% to £26.4m and £7.2m, respectively, within which Footwear grew its contribution by 14% year-on-year to £22.3m and is 84% of the divisional sales. Despite the concentration to one customer, operating margins were held at 25%. Speaking to chief executive David Stirling, he points out that Nike has jus ...

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Idox

UP Global Sourcing - Massive deleverage of balance sheet

Zotefoams (April 2023)

Zotefoams (April 2022)

Zotefoams - Big capex plans come to an end (September 2021)

Zotefoams (March 2021)

Zotefoams (September 2020)

Zotefoams - New contract worth possibly 10% to sales (July 2020)

Zotefoams - New capacity eases bottleneck (May 2020)

Zotefoams (February 2018)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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