In our latest trading update, Zotefoams reports a 9% increase in revenue this period, and further increase in margins, delivering a record H1 profit performance following its Expanding Beyond The Core strategy announcements earlier this year.
We have experienced healthy revenue developments across these markets with Consumer & Lifestyle seeing the biggest of growths within our North America region at 10% and an overall 11% revenue growth within EMEA.
Commenting on the new market strategy, Ronan Cox, Zotefoams CEO says “Our commercial transformation into market-focused verticals continues to progress well, with our pipeline of opportunities growing across all three sectors. While this remains a longer-term strategic initiative, we are encouraged by early benefits from this more targeted approach to market development.”
Zotefoams’ development of its new manufacturing facility in Vietnam also continues as planned and with the post period end, we announced our partnership with Seoheung Co. Ltd. (“Seoheung”), a footwear supply chain specialist manufacturing footwear in Korea, Vietnam, Indonesia, and China.
The company plays a key sourcing role for major footwear producers, including Changshin Inc. This partnership allows Zotefoams to tap into the decades of experience and expertise Seoheung’s has within the Asian footwear industry and Vietnam manufacturing landscape.
Read the full Trading Update here.