AGM and Interim Management Statement

RNS Number : 8868W

Victrex PLC

07 February 2012

 



For Stock Exchange release at 7.00 a.m. Tuesday 7 February 2012

Victrex plc

AGM and Interim Management Statement

At the Annual General Meeting of Victrex plc to be held today, Chairman Anita Frew will make the following statement which comprises Victrex's Interim Management Statement covering the period from 1 October 2011 to date:

"We are pleased to announce that, following the de-stocking reported in our Victrex Polymer Solutions business ('VPS') in Q1 of our financial year, Group sales volume for January came back strongly at 288 tonnes (2011: 265 tonnes). This brings the four month total Group sales volume to 870 tonnes.

We remain mindful of the continuing economic uncertainty and the impact it may have on VPS sales volume for the full year. However, the current order book for February and new business development activity are encouraging.

Our Invibio Biomaterial Solutions business has made a solid start to the financial period and we continue to expect growth for the year.

There have been no significant changes in the financial position of the Company since 30 September 2011 and the Group remains in an excellent financial position with a healthy balance sheet and strong cash generation.

Our capacity expansion plans are on track and we continue to invest in new application development and technical leadership to ensure we capitalise on the growth potential for our business."

Victrex will host a conference call at 8.00 a.m. today for analysts. If you would like more details, please contact Naomi Lane at MHP on 0203 128 8204 / [e-mail].

The Group will also hold an investor day for institutional investors and analysts in London tomorrow, Wednesday 8 February, focusing on its VPS division. No new trading or price sensitive information will be disclosed. A copy of the presentation will be made available on Victrex's website following the event.

Victrex will provide a trading update for the six months to 31 March 2012 on Thursday 5 April 2012.

Enquiries

Victrex plc

Anita Frew, Chairman                                         0203 128 8100 (7 February 2012)

David Hummel, Chief Executive                           01253 897700 (thereafter)

Steve Barrow, Finance Director

MHP Communications

Nick Denton / Barnaby Fry / Ian Payne                0203 128 8100

Victrex plc is an innovative world leader in high performance materials through the manufacture of VICTREX^® PEEK polymer, a high performance, easy to process thermoplastic.

With over 30 years of experience, Victrex is a provider of innovative, high performance thermoplastic polymers. We work with customers and end users globally to deliver technology driven solutions to the challenges and opportunities they face. Our Victrex Polymer Solutions business unit ('VPS') focuses on our transport, industrial and electronics markets and our Invibio^® Biomaterial Solutions business unit ('Invibio') focuses on providing specialist solutions for medical device manufacturers.

 

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