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Zotefoams' shares jump on brighter outlook

The materials business won a big PPE contract last month
Zotefoams' shares jump on brighter outlook

Zotefoams (ZTF) shares leapt after the materials business predicted record sales for its second half, despite weakness in key automotive, aerospace and marine markets. Zotefoams’ polyolefin foams division bore the brunt of the coronavirus pandemic with a 23 per cent revenue decline. But this segment stands to benefit from high PPE (personal protective equipment) demand, and Zotefoams secured a significant contract with its largest UK client last month. 

IC TIP: Sell at 409p

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