Supply chain issues fail to dent Zotefoams' profits

Zotefoams has battled off supply chain issues to maintain profit levels in line with market expectations.

The company released a statement on Tuesday detailing that group revenues for the financial year ending December 2021 was approximately £100 million and their profit before tax was estimated to be around £7 million.

Zotefoams manufacture lightweight cross-linked polyolefin block foams used in manufacturing processes.

Zotefoams attributed these figures to their continued focus on “maintaining high customer service levels in the very challenging supply chain conditions experienced at the end of last year”.

The Group also owes its success to the manufacturing of their sustainable beverage cartons, named ReZorce®; they state that the packaging activities have aided them in making progress.

Group CEO of Zotefoams, David Stirling, commented: "Despite a very challenging backdrop at the end of 2021, we are pleased to have delivered strong top-line growth while meeting profit expectations for the year and our customers' needs.

"I am very pleased at the progress our team has made in developing the ReZorce barrier technology and the plans for increased investment are fully justified given this and the potential opportunity in sustainable barrier packaging for the circular economy."

The company plans to invest up to £1.5m in the business this year to help increase future sales.