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5 Apr 2012 07:00
For Stock Exchange release at 7.00 a.m. Thursday 5 April 2012
Victrex plc
Half Year Trading Update
The Company announces its trading update for the six months ended 31 March 2012.
Group sales volume for the first half reflects a strong recovery in trading in our Victrex Polymer Solutions business ('VPS') following the de-stocking reported in the first quarter of our financial year. Sales volume was 1,377 tonnes (2011: 1,434 tonnes) with volume in the second quarter at a new record of 795 tonnes. Looking ahead, the current order book for April and new business activity continue to be encouraging.
Revenue for our Invibio® Biomaterial Solutions business ('Invibio') for the first half was approximately £25.5m which is 5% ahead of the first half of the previous year (2011: £24.3m) despite the continuing uncertainties in the US healthcare market.
The opportunities for both VPS and Invibio to drive growth into new markets, applications and geographies remain strong. We will continue to invest in capacity, technology and application development to ensure we capitalise on the growth potential for our business.
Victrex will host a conference call at 8.00am today for analysts. If you would like more details, please contact Naomi Lane at MHPC on 0203 128 8204 / Naomi.Lane@mhpc.com.
Victrex will announce its results for the six months ended 31 March 2012 on Tuesday 22 May 2012.
Enquiries | |
Victrex plc |
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Steve Barrow, Finance Director | 0203 128 8100 (5 April) 0125 389 7700 (thereafter) |
MHP Communications |
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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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