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Cellular materials technology group Zotefoams said its third-quarter revenue had risen 11%, offsetting cost pressures and putting it on track to meet annual earnings guidance.
Sales for the three months through September had risen by an even higher 35% compared to the same period in 2019.
'Demand for polyolefin foams has rebounded strongly in most markets, augmented by previously implemented price increases becoming fully effective in the third quarter,' Zotefoams said.
It reiterated that its cost base had increased, in part due to the start-up of a Poland facility.
Rising costs also were pinned on commodity polymer price movements, general inflationary cost increases and additional costs incurred in managing supply chain disruptions and inefficiency.
'We do not foresee a relaxation in cost pressure in the short to medium term,' the company said.
Still, it said that baed on sales forecasts and current exchange rates it expected 'full-year revenues and profit before tax to be in line with market expectations'.