Trading Statement

RNS Number : 2600E

Victrex PLC

08 April 2014

 



8 April 2014

Victrex plc - Half year trading update

'Continued growth momentum in the first half'

Victrex plc, an innovative world leader in high performance polymer solutions, today releases its half year trading update for the six month period to 31 March 2014.

Trading during the first half year continued the growth momentum we reported for Q1, with strong sales volume, principally reflecting a second quarter which was well ahead of our expectations. Group sales volume for the first half of 1584 tonnes was 14% ahead of the softer volume comparative in the prior year (H1 2013: 1392 tonnes) but with a slightly less favourable mix. First half performance in VPS reflects broad based growth across our strategic markets.

In Invibio, revenue for the first half year of £26.9m reflects the steady recovery in the Spine market and compared favourably to the prior year (H1 2013: £24.2m), which was characterised by destocking.

Looking forward, whilst first half growth was particularly strong, we remain very mindful of a much tougher year on year comparative for the second half, and of currency headwinds. Currency is now expected to have a more adverse impact during the current year and particularly into our next financial year. As Victrex enters the second half, and as our full year expectations remain underpinned, we will continue to focus on driving growth and creating value across our strategic markets.

Victrex will report its interim results on Tuesday 20 May 2014. 

Enquiries:

Victrex plc:

Andrew Hanson, Head of Investor Relations                                      [phone]

Louisa Burdett, Group Finance Director                                             [phone]

MHP Communications:

Nick Denton / James White                                                                [phone]

About Victrex:

Victrex is an innovative world leader in high performance polymer solutions. Every day, millions of people rely on products or applications which contain our materials, from smartphones, aeroplanes and cars to oil & gas operations and medical devices. With over 35 years' experience, we are focusing on technical excellence to deliver new solutions to our customers and our markets, and to drive value for our shareholders. Find out more at www.victrexplc.com 

Investor and analyst call:

Victrex will host a conference call for Investors and Analysts at 09.00 BST today. For dial in details please contact Ben Griffiths at MHP Communications on [phone] or [e-mail]

 

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