Last checked at 7 Oct 2008 07:00
Tuesday 7 October 2008
Victrex plc
Annual Trading Update
The Company announces its trading update for the year ended 30 September 2008.
As expected, sales volume for the year grew by 5% to approximately 2,625 tonnes (2007: 2,508 tonnes). Second half sales volume of around 1,331 tonnes was up 9% on last year's second half (1,222 tonnes) and 3% up on this year's first half (1,294 tonnes).
United States full year sales volume of 847 tonnes was 7% up on the previous year (791 tonnes). Second half sales volume of 429 tonnes was up 3% from 418 tonnes in the first half.
At 1,302 tonnes, European sales volume was 5% up on the previous year (1,243 tonnes) with second half sales volume of 656 tonnes, up 2% on the first half of this year (646 tonnes).
Asia-Pacific sales volume of 476 tonnes for the year was in line with 2007 (474 tonnes). Second half sales volume was 246 tonnes, 7% up on the first half of 230 tonnes.
Invibio®, our biomaterial business, generated revenue of approximately £25.0m for the year, an increase of 30% over last year (£19.3m). At £13.3m, second half revenue grew by 14% compared with the first half (£11.7m).
Overall, we expect profits for the year to be in line with market expectations.
The announcement of the Company's results for the year ended 30 September 2008 will be made on Tuesday, 16 December 2008.
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For further information please contact:
| Victrex plc Michael Peacock, Finance Director | 01253 897700 |
| Hogarth Partnership Limited Nick Denton / Barnaby Fry | 0207 357 9477 |
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.
VICTREX PEEK has a unique combination of chemical, wear, electrical, hydrolysis and temperature resistance, as well as excellent dimensional, mechanical and chemical stability combined with inherent purity and low flammability.
End users specify VICTREX PEEK to reduce systems costs, improve part performance, exploit greater design freedom and create a differentiated application. VICTREX PEEK is used across a broad range of applications in diverse markets including transport, industrial, electronics and medical. Invibio®, Victrex's biomaterial business, provides specialised solutions for medical device manufacturers.
The Group's headquarters are in the UK where its manufacturing facilities are based. This is complemented by a global network of sales, distribution and technical centres that serve more than 30 countries worldwide.