Victrex PLC — Earnings Release 2013

Oct 8, 2013

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 9350P

Victrex PLC

08 October 2013

8 October 2013

Victrex plc - Year End Trading Statement

Victrex plc ('Victrex'), an innovative world leader in high performance polymers, today releases its year end trading statement, ahead of its 2013 preliminary results which will be announced on Tuesday 10 December 2013.

Full year sales volume was slightly ahead of last year at 2,920 tonnes (FY 2012: 2,904 tonnes) following a robust second half performance, with sales volume approximately 10% ahead of the first half year. Group sales volume of 1,528 tonnes for the second half was in line with the strong prior year performance (H2 2012: 1,527 tonnes), with good progress across our industrial and transport markets, offset by lower sales in the electronics market following the non-recurrence of last year's strong product launch related sales into consumer electronics.

In our Invibio Biomaterial Solutions business, full year revenue was slightly ahead of the prior year at £50.8m (FY 2012: £50.5m). This reflects steady improvement in sales to the Spine market during the second half year, with revenue 10% ahead of the first half, as inventory levels in the industry appear to have stabilised. Second half revenue in Invibio was also ahead of the prior year at £26.6m (H2 2012: £25.0m). Outside of the Spine market, we continue to see steady progress in our emerging market opportunities.

Outlook

Looking ahead to our new financial year, whilst we remain mindful of the wider economic environment, our order book for October is reassuring. Victrex remains confident in the diverse and multiple growth opportunities that are being developed across the business. Our investment in additional capacity, which is a key enabler to support and deliver our future growth programmes, remains on plan and on budget, with construction progressing well.

Victrex will host an Investor Day, 'Spotlight on Growth', in London this Thursday, 10 October 2013, with its Executive Management Team, including presentations by Tim Cooper, Managing Director of VPS, and Martin Court, Managing Director of Invibio, covering  the scale of Victrex's Group wide growth programmes.  No new trading or financial information will be disclosed during the Investor Day. 

Enquiries:

Victrex plc:

Andrew Hanson, Head of Investor Relations                       01253 898121

Steve Barrow, Group Finance Director                              01253 897700

MHP Communications:

Nick Denton/Barnaby Fry/James White                             0203 128 8100

Investor and analyst conference call:

A conference call for Investors and Analysts will be held today, Tuesday 8 October, 09.00am. For further details please contact Ben Griffiths at MHP Communications on 0203 128 8100.

About Victrex:

Victrex is an innovative world leader in high performance polymers. 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 30 years' experience, we are investing in technology leadership to deliver new solutions to our customers and our markets. Find out more at www.victrexplc.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

TSTUGGWAUUPWGQM