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Victrex Plc (VCT)
dreamcatcher
- 10 Feb 2013 08:20
Victrex is the world’s leading manufacturer of high performance polyaryletherketone materialsVictrex plc, a leading global manufacturer of high performance polymers, comprises two divisions: Victrex Polymer Solutions that focuses on transport, industrial and the electronics markets and Invibio Biomaterial Solutions that focuses on providing specialist solutions for medical device manufacturers.
Victrex Polymer Solutions specializes in the development and manufacture of high performance polyaryletherketones such as VICTREX® PEEK polymer, VICOTE® coatings, APTIV® films, and VICTREX Pipes™.
Invibio® Biomaterial Solutions provides access to highly specialized biocompatible PEEK-based materials and services for medical device manufacturers.With more than 30 years of experience, Victrex has a production, technology, customer service and distribution team that spans more than 30 countries worldwide.
We work directly with material processors and design engineers in a multitude of industries to help create new applications using Victrex polyketone materials. We help improve processing techniques and find ways to reduce overall costs with the goal to introduce competitive, innovative applications to the marketplace
http://www.victrex.com/en/index.php?setLang=1
dreamcatcher
- 10 Feb 2013 08:20
- 2 of 86
MIDAS SHARE TIPS: Wonder-plastics maker ready to double output
By Joanne Hart
PUBLISHED:22:12, 9 February 2013| UPDATED:22:12, 9 February 2013
Victrex is a great British company. It makes an extraordinary type of plastic that is sold globally and used in products as wide-ranging as dentures, aircraft, mobile phones and oil rigs. The shares are 1549p and should increase steadily over the next five years, a rewarding stock for the patient investor.
Victrex, based in Thornton Cleveleys, Lancashire, was initially part of ICI, once a bellwether of the British economy but sold to Dutch conglomerate Akzo Nobel in 2008.
During ICI’s heyday, however, the company was at the forefront of chemical research and developed a product known as PEEK, an extremely durable, heat-resistant plastic.
Investment opportunity: Victrex was initially part of ICI, once a bellwether of the British economy but sold to Dutch conglomerate Akzo Nobel in 2008
Read more: http://www.dailymail.co.uk/money/investing/article-2276167/MIDAS-SHARE-TIPS-Wonder-plastics-maker-ready-double-output.html#ixzz2KU3CLqEu
Follow us: @MailOnline on Twitter | DailyMail on Facebook
Investment opportunity: Victrex was initially part of ICI, once a bellwether of the British economy but sold to Dutch conglomerate Akzo Nobel in 2008
In 1993, the plastics business split off from its parent and Victrex was born. Over the past 20 years, the company has expanded substantially but it continues to focus on PEEK, still considered one of the highest-performing materials in the world.
The plastic can be moulded into various guises but in each case, it is lightweight and very strong, so it can be used in a multitude of ways. In the oil and gas industry, for example, exploration is being carried out in increasingly difficult locations – deep underground or miles out to sea. Pressure on equipment is enormous but PEEK’s strength and versatility mean it is used in components such as valves, tubes and plugs.
The group is even working on PEEK pipes as a replacement for conventional steel ones. Metal is heavy, expensive and difficult to keep afloat so using the plastic could save money and be easier to put in place, allowing explorers to drill more deeply offshore.
At the other end of the spectrum, the material is used to make delicate speaker diaphragms on mobile phones as well as components for printers and circuit boards.
PEEK has another key advantage – it is biologically inert, so it can be safely used within the body. The plastic is already widely used in spinal operations and Victrex is working on knee and hip replacements. In the dental field, it is being rolled out as a frame for dentures, as it is light, malleable and not sensitive to hot or cold food.
Even though PEEK was invented more than 20 years ago, Victrex still has a large research team dedicated to finding new uses for it and adapting it to meet customers’ needs.
In many cases, the gap between initial idea and commercial sales lasts several years, during which time Victrex works with its customers to ensure the end results meet their needs.
Contrary to many companies therefore, Victrex, takes a long-term view. Last October, for example, the group, chaired by experienced director Anita Frew, announced it was investing £90 million in a new facility, which would enable it to make 2,900 tons more PEEK annually.
Currently, it can produce between 3,900 and 4,200 tons a year but customers require supplies of only about 3,000 tons. The extra investment is a big expression of confidence in the future, based on extensive conversations with customers and potential customers worldwide.
Victrex may be based in Lancashire but 98 per cent of its products are exported to the Continent, America and Asia.
The company expects to increase sales substantially to Asia and Latin America, as economic growth is stronger and the pace of innovation is faster.
Victrex is not immune to the economic environment so its profits plunged in 2009, recovered sharply the following year and held steady at just over £94 million in 2011 and 2012. Brokers expect a similar figure for the year to this September, with steady gains in 2014 and beyond. The dividend is forecast at 39p for 2013, rising to 42p next year.
Midas verdict: At 1549p, Victrex shares are not cheap but they offer real long-term value. The company is innovative, focused on growth and constantly finding new applications for its wonder plastic. Buy and hold.
By Joanne Hart
PUBLISHED:22:12, 9 February 2013| UPDATED:22:12, 9 February 2013
Victrex is a great British company. It makes an extraordinary type of plastic that is sold globally and used in products as wide-ranging as dentures, aircraft, mobile phones and oil rigs. The shares are 1549p and should increase steadily over the next five years, a rewarding stock for the patient investor.
Victrex, based in Thornton Cleveleys, Lancashire, was initially part of ICI, once a bellwether of the British economy but sold to Dutch conglomerate Akzo Nobel in 2008.
During ICI’s heyday, however, the company was at the forefront of chemical research and developed a product known as PEEK, an extremely durable, heat-resistant plastic.
Investment opportunity: Victrex was initially part of ICI, once a bellwether of the British economy but sold to Dutch conglomerate Akzo Nobel in 2008
Read more: http://www.dailymail.co.uk/money/investing/article-2276167/MIDAS-SHARE-TIPS-Wonder-plastics-maker-ready-double-output.html#ixzz2KU3CLqEu
Follow us: @MailOnline on Twitter | DailyMail on Facebook
Investment opportunity: Victrex was initially part of ICI, once a bellwether of the British economy but sold to Dutch conglomerate Akzo Nobel in 2008
In 1993, the plastics business split off from its parent and Victrex was born. Over the past 20 years, the company has expanded substantially but it continues to focus on PEEK, still considered one of the highest-performing materials in the world.
The plastic can be moulded into various guises but in each case, it is lightweight and very strong, so it can be used in a multitude of ways. In the oil and gas industry, for example, exploration is being carried out in increasingly difficult locations – deep underground or miles out to sea. Pressure on equipment is enormous but PEEK’s strength and versatility mean it is used in components such as valves, tubes and plugs.
The group is even working on PEEK pipes as a replacement for conventional steel ones. Metal is heavy, expensive and difficult to keep afloat so using the plastic could save money and be easier to put in place, allowing explorers to drill more deeply offshore.
At the other end of the spectrum, the material is used to make delicate speaker diaphragms on mobile phones as well as components for printers and circuit boards.
PEEK has another key advantage – it is biologically inert, so it can be safely used within the body. The plastic is already widely used in spinal operations and Victrex is working on knee and hip replacements. In the dental field, it is being rolled out as a frame for dentures, as it is light, malleable and not sensitive to hot or cold food.
Even though PEEK was invented more than 20 years ago, Victrex still has a large research team dedicated to finding new uses for it and adapting it to meet customers’ needs.
In many cases, the gap between initial idea and commercial sales lasts several years, during which time Victrex works with its customers to ensure the end results meet their needs.
Contrary to many companies therefore, Victrex, takes a long-term view. Last October, for example, the group, chaired by experienced director Anita Frew, announced it was investing £90 million in a new facility, which would enable it to make 2,900 tons more PEEK annually.
Currently, it can produce between 3,900 and 4,200 tons a year but customers require supplies of only about 3,000 tons. The extra investment is a big expression of confidence in the future, based on extensive conversations with customers and potential customers worldwide.
Victrex may be based in Lancashire but 98 per cent of its products are exported to the Continent, America and Asia.
The company expects to increase sales substantially to Asia and Latin America, as economic growth is stronger and the pace of innovation is faster.
Victrex is not immune to the economic environment so its profits plunged in 2009, recovered sharply the following year and held steady at just over £94 million in 2011 and 2012. Brokers expect a similar figure for the year to this September, with steady gains in 2014 and beyond. The dividend is forecast at 39p for 2013, rising to 42p next year.
Midas verdict: At 1549p, Victrex shares are not cheap but they offer real long-term value. The company is innovative, focused on growth and constantly finding new applications for its wonder plastic. Buy and hold.
dreamcatcher
- 18 Feb 2013 16:23
- 3 of 86
:-))
dreamcatcher
- 28 May 2013 09:34
- 4 of 86
Broker snap: Jefferies hails dividend at Victrex
By Benjamin Chiou
Tue 28 May 2013
Broker snap: Jefferies hails dividend at Victrex LONDON (SHARECAST) - Shares in polymer manufacturer Victrex surged on Tuesday morning after a forecast-beating first-half report, the standout of which was the increase in the dividend, according to Jefferies.
The company, which makes plastics for a variety of markets including transportation, electronics and medical devices, reported a 1.0% rise in revenue to £106.4m in the six months to March 31st on the back of a 1.0% improvement in volumes to 1,392 tonnes which was driven by strength in Europe.
Profit before tax fell slightly from £46.2m to £45.7m, but this was ahead of the consensus estimate of £44.8m and Jefferies' forecast of £44.5m. Earnings per share of 41.5p beat the consensus prediction of 40.8p (Jefferies: 30.1p), driven by a lower-than-expected tax rate.
The interim dividend meanwhile was lifted by 15% year-on-year to 10.35 per share, well ahead of forecasts for a 4-5% increase.
"All reassuring stuff that should enable the shares to go a bit better on the day," the broker said. That they did, with the stock registering gains of 4.84% to 1,706.75p by 09:20 on Tuesday.
However, Jefferies kept its 'hold' rating on the stock, saying that on its forecasts the shares trade at 19 and 18 times 2013 and 2014 earnings.
"Post the earlier pre-close update, these interims appear to only fill in the gaps rather than reveal anything materially new."
The broker maintained its 1,760p target for the share price.
By Benjamin Chiou
Tue 28 May 2013
Broker snap: Jefferies hails dividend at Victrex LONDON (SHARECAST) - Shares in polymer manufacturer Victrex surged on Tuesday morning after a forecast-beating first-half report, the standout of which was the increase in the dividend, according to Jefferies.
The company, which makes plastics for a variety of markets including transportation, electronics and medical devices, reported a 1.0% rise in revenue to £106.4m in the six months to March 31st on the back of a 1.0% improvement in volumes to 1,392 tonnes which was driven by strength in Europe.
Profit before tax fell slightly from £46.2m to £45.7m, but this was ahead of the consensus estimate of £44.8m and Jefferies' forecast of £44.5m. Earnings per share of 41.5p beat the consensus prediction of 40.8p (Jefferies: 30.1p), driven by a lower-than-expected tax rate.
The interim dividend meanwhile was lifted by 15% year-on-year to 10.35 per share, well ahead of forecasts for a 4-5% increase.
"All reassuring stuff that should enable the shares to go a bit better on the day," the broker said. That they did, with the stock registering gains of 4.84% to 1,706.75p by 09:20 on Tuesday.
However, Jefferies kept its 'hold' rating on the stock, saying that on its forecasts the shares trade at 19 and 18 times 2013 and 2014 earnings.
"Post the earlier pre-close update, these interims appear to only fill in the gaps rather than reveal anything materially new."
The broker maintained its 1,760p target for the share price.
dreamcatcher
- 28 May 2013 18:33
- 5 of 86
Not in this, for those interested -
Victrex perfect demographic match
By Ceri Jones | Tue, 28/05/2013 - 10:30
Victrex (VCT), a leading supplier of durable, heat-resistant plastic called polyaryletherketones, or Peek, has announced group pre-tax profit down marginally to £45.7 million in the half-year to end-March (2012, £46.2 million).
A spin-off from ICI 20 years ago, Lancashire-based Victrex has been a dream growth story, producing products with which investors can identify. The group comprises two divisions - Victrex Polymer Solutions, which supplies Peek plastic to the transport, industrial and electronics industries as an alternative to metal, and which generates three quarters of the revenue; and Invibio Biomaterial Solutions, which supplies implant material for medical devices such as joint replacements and medical implants.
However, there are growing doubts about the pricing of these plastics - an increasing number of competitors have entered this burgeoning field, and the company has also been experiencing some shortfall in demand for its spinal implants.
The market is very different from 16-17 years ago, when chemical companies shunned this arena after a number of malpractice lawsuits involving joint implants. The Biomaterials Access Assurance Act of 1998, passed in an effort to protect implant material suppliers from civil lawsuits, encouraged renewed interest in the segment from other chemical companies.
Competition has really stepped up since 2007 when several competitors began to enter the market, such as European chemical giant Solvay. This has also led to criticism of the cost of the plastic, even accounting for the tight manufacturing controls and traceability required in the its production. Medical-grade Peek costs more than $1,000 (£663) per pound and bioresorbables even more, and a price war could be materialising.
However, Victrex still has a large research team dedicated to finding new uses for the material, which is lightweight and very strong, and could have many additional applications. It is suitable for making components such as valves, tubes and plugs for oil and gas mining, as exploration is increasingly taking place in hazardous locations on land and sea, and it has the potential to be used as a lighter replacement for conventional steel pipes. Its lightness and durability also makes it suitable for tiny components in mobile phones and for dentures, and many other applications that are equally well in tune with demographic trends such as ageing populations and increasing use of technology.
The company's strong cash flow has also driven the its expansion programme: a £90 million new facility, enabling it to make 2,900 tons more Peek annually.
Chairman Anita Frew said: "Whilst it is too early to predict the outcome for the year as a whole, in the second half to date, the improved sales volume from the second quarter has been sustained, speciality products continue to perform well and Invibio revenue has been in line with last year.
"The fundamental growth drivers in our key end markets are strong; our development pipeline of future opportunities is healthy and we continue to drive commercialisation of our key growth programmes. In addition, we are focusing on further opportunities to invest in new product offerings and downstream process capability to accelerate market penetration and meet the needs of our customers. We therefore remain confident in the growth potential for our business."
The management is also keen to maintain a progressive dividend policy, reflected in a 15% increase in the interim dividend.
Sales volumes and group revenue both rose 1% to 1,392 tonnes and £106.4 million respectively, while margins stayed steady at 67%. Earnings per share were up at 41.7p.
Victrex sends 98% of its produce to the US, Europe and Asia. Volume in Europe grew 8.0% ahead of last year, driven by growth in the non-implantable medical and transport markets, while volumes in the US fell 4.0% with weaker sales in the oil and gas sector, partially offset by the consumer electronics sector. Sales in Asia also fell 10% down on the previous year owing to a slowdown in sales into the semiconductor sector and sluggish demand generally in Japan.
The market liked the results, and pushed the shares up 71p to 1,699p by 9:41. Analysts have mixed views on the stock - those that rate it a buy include Jefferies Group with a target price of 1,759.73p, Deutsche with 1,825p, and Goldman Sachs with 1,850p.
Victrex perfect demographic match
By Ceri Jones | Tue, 28/05/2013 - 10:30
Victrex (VCT), a leading supplier of durable, heat-resistant plastic called polyaryletherketones, or Peek, has announced group pre-tax profit down marginally to £45.7 million in the half-year to end-March (2012, £46.2 million).
A spin-off from ICI 20 years ago, Lancashire-based Victrex has been a dream growth story, producing products with which investors can identify. The group comprises two divisions - Victrex Polymer Solutions, which supplies Peek plastic to the transport, industrial and electronics industries as an alternative to metal, and which generates three quarters of the revenue; and Invibio Biomaterial Solutions, which supplies implant material for medical devices such as joint replacements and medical implants.
However, there are growing doubts about the pricing of these plastics - an increasing number of competitors have entered this burgeoning field, and the company has also been experiencing some shortfall in demand for its spinal implants.
The market is very different from 16-17 years ago, when chemical companies shunned this arena after a number of malpractice lawsuits involving joint implants. The Biomaterials Access Assurance Act of 1998, passed in an effort to protect implant material suppliers from civil lawsuits, encouraged renewed interest in the segment from other chemical companies.
Competition has really stepped up since 2007 when several competitors began to enter the market, such as European chemical giant Solvay. This has also led to criticism of the cost of the plastic, even accounting for the tight manufacturing controls and traceability required in the its production. Medical-grade Peek costs more than $1,000 (£663) per pound and bioresorbables even more, and a price war could be materialising.
However, Victrex still has a large research team dedicated to finding new uses for the material, which is lightweight and very strong, and could have many additional applications. It is suitable for making components such as valves, tubes and plugs for oil and gas mining, as exploration is increasingly taking place in hazardous locations on land and sea, and it has the potential to be used as a lighter replacement for conventional steel pipes. Its lightness and durability also makes it suitable for tiny components in mobile phones and for dentures, and many other applications that are equally well in tune with demographic trends such as ageing populations and increasing use of technology.
The company's strong cash flow has also driven the its expansion programme: a £90 million new facility, enabling it to make 2,900 tons more Peek annually.
Chairman Anita Frew said: "Whilst it is too early to predict the outcome for the year as a whole, in the second half to date, the improved sales volume from the second quarter has been sustained, speciality products continue to perform well and Invibio revenue has been in line with last year.
"The fundamental growth drivers in our key end markets are strong; our development pipeline of future opportunities is healthy and we continue to drive commercialisation of our key growth programmes. In addition, we are focusing on further opportunities to invest in new product offerings and downstream process capability to accelerate market penetration and meet the needs of our customers. We therefore remain confident in the growth potential for our business."
The management is also keen to maintain a progressive dividend policy, reflected in a 15% increase in the interim dividend.
Sales volumes and group revenue both rose 1% to 1,392 tonnes and £106.4 million respectively, while margins stayed steady at 67%. Earnings per share were up at 41.7p.
Victrex sends 98% of its produce to the US, Europe and Asia. Volume in Europe grew 8.0% ahead of last year, driven by growth in the non-implantable medical and transport markets, while volumes in the US fell 4.0% with weaker sales in the oil and gas sector, partially offset by the consumer electronics sector. Sales in Asia also fell 10% down on the previous year owing to a slowdown in sales into the semiconductor sector and sluggish demand generally in Japan.
The market liked the results, and pushed the shares up 71p to 1,699p by 9:41. Analysts have mixed views on the stock - those that rate it a buy include Jefferies Group with a target price of 1,759.73p, Deutsche with 1,825p, and Goldman Sachs with 1,850p.
dreamcatcher
- 30 May 2013 09:22
- 6 of 86
Victrex: UBS ups target price from 1540p to 1590p, but still recommends selling.
dreamcatcher
- 31 May 2013 18:24
- 7 of 86
Victrex: Numis ups target price from 1752p to 1775p, while its hold recommendation remains unchanged.
dreamcatcher
- 08 Jun 2013 19:29
- 8 of 86
A hold in this weeks IC - Victrex boosts dividends.
Victrex has a strong balance sheet , generates plenty of cash and has an excellent growth record. However, assuming 12% earnings growth next year , the shares are now priced on a forward PE ratio of 18, which factors in the recovery.
Victrex has a strong balance sheet , generates plenty of cash and has an excellent growth record. However, assuming 12% earnings growth next year , the shares are now priced on a forward PE ratio of 18, which factors in the recovery.
dreamcatcher
- 26 Jul 2013 22:05
- 9 of 86
Interim Management Statement
RNS
RNS Number : 0479K
Victrex PLC
25 July 2013
25 July 2013
Victrex plc - Interim Management Statement
'Trading in line with expectations'
Victrex plc ('Victrex'), an innovative world leader in high performance thermoplastic polymers, today releases its third quarter Interim Management Statement, covering the period from 1 April 2013 to date.
The Company continues to trade in line with market expectations, despite on-going uncertainty in the wider global economy. Group sales volume in the third quarter was 756 tonnes, in line with the previous financial year (Q3 2012: 754 tonnes). Trading in our Invibio Biomaterials business since the half year has been reassuring, with revenue in Q3 ahead of the same period last year.
Looking forward, initial order patterns in the fourth quarter across both of our business units continue to be in line with our expectations. There have been no significant changes in the financial position of the Company since it reported its interim results on 28 May 2013.
Victrex will host an Investor Day in London on 10 October 2013. Presentations by senior management will focus on strategy and the growth opportunities being developed throughout the Group.
Victrex will release its pre-close trading update on 8 October 2013, which will cover the period ending 30 September 2013.
---------------------------------------------------------------------------------
26 July 2013 | 12:15pm StockMarketWire.com - Numis lifts Victrex to add from hold, 1775p target unchanged -
RNS
RNS Number : 0479K
Victrex PLC
25 July 2013
25 July 2013
Victrex plc - Interim Management Statement
'Trading in line with expectations'
Victrex plc ('Victrex'), an innovative world leader in high performance thermoplastic polymers, today releases its third quarter Interim Management Statement, covering the period from 1 April 2013 to date.
The Company continues to trade in line with market expectations, despite on-going uncertainty in the wider global economy. Group sales volume in the third quarter was 756 tonnes, in line with the previous financial year (Q3 2012: 754 tonnes). Trading in our Invibio Biomaterials business since the half year has been reassuring, with revenue in Q3 ahead of the same period last year.
Looking forward, initial order patterns in the fourth quarter across both of our business units continue to be in line with our expectations. There have been no significant changes in the financial position of the Company since it reported its interim results on 28 May 2013.
Victrex will host an Investor Day in London on 10 October 2013. Presentations by senior management will focus on strategy and the growth opportunities being developed throughout the Group.
Victrex will release its pre-close trading update on 8 October 2013, which will cover the period ending 30 September 2013.
---------------------------------------------------------------------------------
26 July 2013 | 12:15pm StockMarketWire.com - Numis lifts Victrex to add from hold, 1775p target unchanged -
dreamcatcher
- 10 Dec 2013 17:07
- 10 of 86
Final Results
Highlights:
· Group volumes and revenue ahead
· Good underlying trading in VPS; Invibio stabilised
· Gross margins remain strong at 66.6%
· Continued investment in key growth programmes
· Full year dividend increased by 15% to 43.0p per share
http://www.moneyam.com/action/news/showArticle?id=4721730
Highlights:
· Group volumes and revenue ahead
· Good underlying trading in VPS; Invibio stabilised
· Gross margins remain strong at 66.6%
· Continued investment in key growth programmes
· Full year dividend increased by 15% to 43.0p per share
http://www.moneyam.com/action/news/showArticle?id=4721730
grevis2 - 04 Feb 2014 12:00 - 11 of 86
StockMarketWire.com
Polymer solutions specialist Victrex said overall, first quarter performance was in line with expectations, followed by a much stronger January.
Group sales volume for Q1, covering the three month period 1 October to 31 December 2013, was 6% ahead of the same period last year, with 679 tonnes (Q1 2013: 640 tonnes).
The second quarter has started well, with January sales volume in excess of 330 tonnes and ahead of the softer comparative in the prior year. In Invibio, revenue for the first quarter and January was also ahead of the prior year.
Anita Frew, Chairman of Victrex, said: "We have made an encouraging start to 2014, with first quarter performance ahead of the prior year and continuing our momentum from the second half of 2013. Although it remains early in our new financial year and our expectations are unchanged, we remain encouraged by the potential across our business."
Victrex remains in a strong financial position, with a healthy balance sheet, good cash generation and no significant changes to our financial position since 30 September 2013.
Polymer solutions specialist Victrex said overall, first quarter performance was in line with expectations, followed by a much stronger January.
Group sales volume for Q1, covering the three month period 1 October to 31 December 2013, was 6% ahead of the same period last year, with 679 tonnes (Q1 2013: 640 tonnes).
The second quarter has started well, with January sales volume in excess of 330 tonnes and ahead of the softer comparative in the prior year. In Invibio, revenue for the first quarter and January was also ahead of the prior year.
Anita Frew, Chairman of Victrex, said: "We have made an encouraging start to 2014, with first quarter performance ahead of the prior year and continuing our momentum from the second half of 2013. Although it remains early in our new financial year and our expectations are unchanged, we remain encouraged by the potential across our business."
Victrex remains in a strong financial position, with a healthy balance sheet, good cash generation and no significant changes to our financial position since 30 September 2013.
dreamcatcher
- 19 Mar 2014 18:54
- 12 of 86
Victrex PLC (VCT:LSE) set a new 52-week high during today's trading session when it reached 1,975. Over this period, the share price is up 14.82%.
dreamcatcher
- 20 Mar 2014 16:48
- 13 of 86
Victrex: Citi increases target price from 1550p to 2100p upgrading to buy.
dreamcatcher
- 01 Apr 2014 21:08
- 14 of 86
1 Apr Deutsche Bank 2,050.00 Buy
dreamcatcher
- 04 Apr 2014 21:39
- 15 of 86
Shares - Investors may expect Victrex to reveal another quarter of strong sales growth at Tues 8 Apr first -half update.
dreamcatcher
- 08 Apr 2014 07:27
- 16 of 86
Trading Statement
RNS
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.
dreamcatcher
- 20 May 2014 07:21
- 17 of 86
Half Yearly Report
Highlights:
· Continued growth momentum: H1 revenue 13% ahead and PBT 7% ahead
· Strong trading in VPS driven by core PEEK sales; Invibio returned to growth
· Speciality Products remain strong; double-digit sales growth
· Margins reflect cost of manufacture, mix and currency in H1
· Major capacity expansion now scheduled for commissioning in early 2015; supporting core growth and new business opportunities
· Good cash generation; interim dividend increased by 10%
http://www.moneyam.com/action/news/showArticle?id=4814057
Highlights:
· Continued growth momentum: H1 revenue 13% ahead and PBT 7% ahead
· Strong trading in VPS driven by core PEEK sales; Invibio returned to growth
· Speciality Products remain strong; double-digit sales growth
· Margins reflect cost of manufacture, mix and currency in H1
· Major capacity expansion now scheduled for commissioning in early 2015; supporting core growth and new business opportunities
· Good cash generation; interim dividend increased by 10%
http://www.moneyam.com/action/news/showArticle?id=4814057
dreamcatcher
- 20 May 2014 18:32
- 18 of 86
20 May N+1 Singer 1,910.00 Hold
dreamcatcher
- 22 May 2014 20:15
- 19 of 86
22 May Numis 1,987.00 Add
dreamcatcher
- 30 Jul 2014 07:14
- 20 of 86
Interim Management Statement
RNS
RNS Number : 6728N
Victrex PLC
30 July 2014
30 July 2014
Victrex plc - Interim Management Statement
"Strong and broad based performance continues - trading in-line with expectations"
Victrex plc, an innovative world leader in high performance polymer solutions, today releases its Interim Management Statement for the period 1 April 2014 to date.
Victrex continued its strong and broad based performance during the period. Third quarter Group sales volume, covering the period 1 April to 30 June, of 911 tonnes was 21% ahead of the prior year (Q3 2013: 756 tonnes), which reflects continued momentum in our core Victrex Polymer Solutions (VPS) business, good growth in Speciality Products and some new business in the Consumer Electronics market. Year to date sales volume of 2,495 tonnes was up 16% on the prior year (Q3 2013 YTD: 2,147 tonnes). In our Invibio medical business, Q3 revenue was 3% ahead of the prior year period, which saw the start of recovery in the Spine market.
Our Consumer Electronics opportunity, as highlighted at our interim results, will come through at a slightly softer margin than typical VPS business. As shorter lifecycle business, it will also be hedged at less favourable currency rates than the rest of the Group. Consumer Electronics has, historically, been one of the shorter lifecycle portions of the Group's portfolio, compared to our other longer lifecycle, high margin and high volume opportunities which we are focusing on. This opportunity, together with the current growth trends across core VPS and Speciality Products, keeps us well placed to continue our growth momentum through the rest of the second half and into 2015, with fourth quarter trading to date remaining positive across our business.
Looking forward, Sterling has continued to strengthen since our interim results in May and remains a considerable headwind for our next financial year. Our new capacity investment continues to be on track for commissioning in early 2015, to underpin core growth and new business opportunities and, despite our high capital expenditure programme, the Group's cash position remains strong. There have been no significant changes to the Company's financial position since our interim results announcement.
With our growth momentum remaining strong and a robust outlook across our markets, we continue to trade in line with market expectations.
dreamcatcher
- 30 Jul 2014 19:00
- 21 of 86
30 Jul N+1 Singer 1,640.00 Hold
30 Jul Deutsche Bank 2,050.00 Buy
30 Jul Deutsche Bank 2,050.00 Buy
dreamcatcher
- 07 Aug 2014 21:11
- 22 of 86
7 Aug Berenberg 1,950.00 Buy
dreamcatcher
- 09 Oct 2014 07:09
- 23 of 86
Trading Statement
RNS
RNS Number : 8130T
Victrex PLC
09 October 2014
9 October 2014
Victrex plc - Pre-close trading statement
"A strong finish to 2014 - growth momentum continues"
Victrex plc, an innovative world leader in high performance polymer solutions, today releases its pre-close trading statement for the financial year ended 30 September 2014, ahead of its preliminary results on Tuesday 9 December 2014.
Victrex delivered a strong finish to 2014, with the Group continuing its volume growth momentum from the first half year across our strategic markets of Automotive, Aerospace, Energy, Electronics and Medical. Full year Group sales volume of 3,551 tonnes increased by 22% (2013: 2,920 tonnes), with second half year sales volume of 1,967 tonnes increasing by 29% on last year (H2 2013: 1,528 tonnes). Although sales volumes were particularly strong, our profit expectations remain largely unchanged.
The strong volume performance in our Victrex Polymer Solutions (VPS) business reflects core growth and higher than expected volumes in the second half year from Consumer Electronics. Stripping out sales volumes across the entire Electronics segment, second half year sales volume increased by 6% on the prior year. Our higher margin Speciality Products business, including Aptiv film, again performed well during the year. With continued growth in Aptiv, we will bring an additional production line on stream during the first half of our new financial year.
In our higher margin Invibio medical business, full year revenue increased by 5% to £53.4m (2013: £50.8m), reflecting steady improvement in the Spine market. The focus for 2015 remains the roll-out of new products into the Spine market, with regulatory applications lodged in the US and Europe for the innovative PEEK-OPTIMA® HA-Enhanced product, which enhances bone-on-growth. Pending regulatory approval, adoption and roll-out will commence during the first half.
As we start our new financial year, our growth momentum remains positive. Although currency headwinds remain considerable in 2015, our forthcoming new PEEK and Aptiv film capacity, technical excellence and marketing know-how keep us well placed to continue driving growth and creating value, in line with our long term strategy.
dreamcatcher
- 10 Oct 2014 07:13
- 24 of 86
Questor share tip: Victrex production beats expectations
Strong sales of plastic polymers were above market expectations during a strong end to the year, says Questor.
By John Ficenec, Questor Editor
6:00AM BST 10 Oct 2014
Victrex
£15.96+7p
Questor says HOLD
VICTREX [LON:VCT], the manufacturer of specialist lightweight polymers, enjoyed a strong end to the year, shifting more product than expected.
The polymer specialist said full-year group sales had increased by 22pc to 3,551 tonnes to the end of September. While the strong performance was encouraging, the company warned that it was now selling higher volumes of lower profit-margin products. So, despite sales volumes increasing, profits will largely be flat next year.
Broker JP Morgan Cazenove said: “2015 looks set to be a year of transition as the new plant is commissioned and the company continues to invest in new sales and marketing initiatives.”
David Hummel, chief executive, also warned that with about 97pc of products being exported, foreign exchange is now expected to reduce pre-tax profits next year by between £10 to £12m. The driving force behind the sales growth was a strong market in the automotive and aerospace sectors for the company’s Peek products, which are made from a new lightweight polymer, which is also temperature and chemical resistant. The Peek material is being used to replace metal parts in aeroplanes such as the new Boeing 787, brake pads in cars, and components in smartphones and medical implants.
The FTSE 250-listed company is embarking on the largest expansion in its history by doubling investment in Peek manufacturing facilities. Victrex is building a third Peek manufacturing plant and capital investment is expected to hit £65m for the year just completed, up from £41m a year earlier.
Mr Hummel said the company was coming towards the end of investment in the new facility and capital spending is expected to fall to about £40m within the next 12 months.
The last time we looked at Victrex shares they were too rich, trading on a forecast earnings multiple of 22 times. However, from a peak of £20.26 on April 2, the shares have fallen more than 20pc and now trade on 17 times forecast earnings and offer a dividend yield of 3.1pc.
The balance sheet is in a net cash position but we still can’t be tempted, because 17 times earnings is expensive for limited profit growth. Hold.
dreamcatcher
- 04 Dec 2014 22:52
- 25 of 86
Shares -Investors in the chemical sector take note: Final results due 9 Dec - showing strong volume growth as consumer electronics proves a growth area for the polymer type PEEK used in engineering applications.
dreamcatcher
- 09 Dec 2014 07:22
- 26 of 86
Final Results
Highlights:
• Continued momentum across our markets: Revenue up 14%, PBT up 9%
- Strong performance across VPS with 17% growth in higher margin Speciality Products
- Invibio returned to growth driven by Spine
- New Consumer Electronics business: further volumes for H1 15 and platform to future opportunities
• Cost of manufacture improvement in H2
- Continued focus on efficiency in 2015
• Major capacity investments nearing completion
- New PEEK and Aptiv film capacity to support larger commercial opportunities
• Special dividend of 50p/share underpinned by strong cash generation and balance sheet
- 50p/share special dividend (£43m payout), alongside 33.76p final dividend, regular dividend cover 2.1x
- FY14 net cash £89.6m despite record capital expenditure
http://www.moneyam.com/action/news/showArticle?id=4938691
Highlights:
• Continued momentum across our markets: Revenue up 14%, PBT up 9%
- Strong performance across VPS with 17% growth in higher margin Speciality Products
- Invibio returned to growth driven by Spine
- New Consumer Electronics business: further volumes for H1 15 and platform to future opportunities
• Cost of manufacture improvement in H2
- Continued focus on efficiency in 2015
• Major capacity investments nearing completion
- New PEEK and Aptiv film capacity to support larger commercial opportunities
• Special dividend of 50p/share underpinned by strong cash generation and balance sheet
- 50p/share special dividend (£43m payout), alongside 33.76p final dividend, regular dividend cover 2.1x
- FY14 net cash £89.6m despite record capital expenditure
http://www.moneyam.com/action/news/showArticle?id=4938691
dreamcatcher
- 10 Dec 2014 16:27
- 27 of 86
Victrex shares jump on bumper cash return
Management more than doubles cash return to investors as cash mounts up following record year, says Questo
Victrex engineer
A Victrex engineer works on high performance polymer materials
By John Ficenec, Questor Editor
6:00AM GMT 10 Dec 2014
Victrex
£20+136p
Questor says HOLD
Victrex [LON:VCT], the manufacturer of specialist lightweight polymers, announced a special dividend for investors yesterday, sending its shares soaring £1.36 or more than 7pc higher.
Back in September, the polymer specialist had flagged that sales were strong into the end of the year but the build-up in cash came as a welcome surprise.
The driving force behind the growth was a strong market in the automotive and aerospace sectors for the company’s Peek products, which are made from a new lightweight polymer resistant to temperature and chemicals. The material is being used to replace metal parts in aeroplanes such as the new Boeing 787, brake pads in cars, and components in smartphones and medical implants.
The FTSE 250-listed company said revenue was up 14pc to £252.6m, and pre-tax profits were up 9pc to £102.7m.
The business has two divisions: Victrex Polymer Solutions, which focuses on transport, industrial and the electronics market; and Invibio Biomaterials, which supplies medical device manufacturers. The polymers business reported volumes 22pc ahead of last year at 3,551 tonnes, while Invibio reported revenue up 5pc on last year.
David Hummel, chief executive, said: “Our 2015 financial year has started well and although currency headwinds remain considerable, we now anticipate being able to fully cover the FX impact.”
The strong performance was achieved by selling higher volumes of lower profit-margin products. So, the gross profit margin fell 200 basis points to 64.6pc from 66.6pc last year.
Mr Hummel said the company would pay a 45.15p full year dividend as well as a 50p special dividend, both of which are ex-dividend on February 4 and payable February 20.
The balance sheet was in a £89.6m net cash position at the year-end but this will fall by £43m following the payment of the special dividend.
The shares are currently rated on 20 times forecast earnings and pay a 2.8pc prospective dividend yield. Hold.
-----------------------------------------------------------------------------------------------
10 Dec Exane BNP... 1,900.00 Neutral
10 Dec Deutsche Bank 2,350.00 Buy
10 Dec JP Morgan... 1,850.00 Neutral
9 Dec N+1 Singer 1,860.00 Buy
9 Dec Deutsche Bank 2,050.00 Buy
Management more than doubles cash return to investors as cash mounts up following record year, says Questo
Victrex engineer
A Victrex engineer works on high performance polymer materials
By John Ficenec, Questor Editor
6:00AM GMT 10 Dec 2014
Victrex
£20+136p
Questor says HOLD
Victrex [LON:VCT], the manufacturer of specialist lightweight polymers, announced a special dividend for investors yesterday, sending its shares soaring £1.36 or more than 7pc higher.
Back in September, the polymer specialist had flagged that sales were strong into the end of the year but the build-up in cash came as a welcome surprise.
The driving force behind the growth was a strong market in the automotive and aerospace sectors for the company’s Peek products, which are made from a new lightweight polymer resistant to temperature and chemicals. The material is being used to replace metal parts in aeroplanes such as the new Boeing 787, brake pads in cars, and components in smartphones and medical implants.
The FTSE 250-listed company said revenue was up 14pc to £252.6m, and pre-tax profits were up 9pc to £102.7m.
The business has two divisions: Victrex Polymer Solutions, which focuses on transport, industrial and the electronics market; and Invibio Biomaterials, which supplies medical device manufacturers. The polymers business reported volumes 22pc ahead of last year at 3,551 tonnes, while Invibio reported revenue up 5pc on last year.
David Hummel, chief executive, said: “Our 2015 financial year has started well and although currency headwinds remain considerable, we now anticipate being able to fully cover the FX impact.”
The strong performance was achieved by selling higher volumes of lower profit-margin products. So, the gross profit margin fell 200 basis points to 64.6pc from 66.6pc last year.
Mr Hummel said the company would pay a 45.15p full year dividend as well as a 50p special dividend, both of which are ex-dividend on February 4 and payable February 20.
The balance sheet was in a £89.6m net cash position at the year-end but this will fall by £43m following the payment of the special dividend.
The shares are currently rated on 20 times forecast earnings and pay a 2.8pc prospective dividend yield. Hold.
-----------------------------------------------------------------------------------------------
10 Dec Exane BNP... 1,900.00 Neutral
10 Dec Deutsche Bank 2,350.00 Buy
10 Dec JP Morgan... 1,850.00 Neutral
9 Dec N+1 Singer 1,860.00 Buy
9 Dec Deutsche Bank 2,050.00 Buy
dreamcatcher
- 15 Dec 2014 18:07
- 28 of 86
Victrex: N+1 Singer raises target price from 1860p to 2100p and reiterates a 'buy' recommendation.
dreamcatcher
- 09 Jan 2015 15:22
- 29 of 86
9 Jan Deutsche Bank 2,350.00 Buy
dreamcatcher
- 12 Jan 2015 15:14
- 30 of 86
Victrex: Citi raises target price from 2100p to 2200p, while downgrading to 'neutral'.
dreamcatcher
- 23 Jan 2015 22:10
- 31 of 86
Victrex PLC (VCT:LSE) set a new 52-week high during today's trading session when it reached 2,202.55. Over this period, the share price is up 22.04%.
dreamcatcher
- 31 Jan 2015 14:24
- 32 of 86
IC - The European economic upturn failed to surface in 2014, yet in the main chemicals sector once again proved resilient. A 50p share special dividend and a favourable outlook for a number of its end markets helped propel shares ion Victrex up by 15%. Exposure to consumer electronics may yield lower margins for the plastic specialist , yet it still offered welcome top-line growth in a period of economic uncertainty. Looking ahead, a rock-bottom oil price could also be beneficial, as Victrex sells into the aerospace market and manufactures the polymers found on every modern car.
//////////////////////////////////////////////////////////////////////////////////////////////////
EX dividend 5 Feb Victrex (special) 50p payable 20 Feb
Victrex 33.76p payable 20 Feb
//////////////////////////////////////////////////////////////////////////////////////////////////
EX dividend 5 Feb Victrex (special) 50p payable 20 Feb
Victrex 33.76p payable 20 Feb
dreamcatcher
- 03 Feb 2015 18:07
- 33 of 86
Trading statement 4 Feb 15
3 Feb Berenberg 2,380.00 Buy
3 Feb Berenberg 2,380.00 Buy
dreamcatcher
- 04 Feb 2015 16:05
- 34 of 86
AGM and Q1 Interim Management Statement
RNS
RNS Number : 9655D
Victrex PLC
04 February 2015
4 February 2015
Victrex plc
AGM and Q1 Interim Management Statement
'A solid start to 2015'
Victrex plc, an innovative world leader in high performance polymer solutions, today releases its first quarter (Q1) Interim Management Statement ahead of its Annual General Meeting being held this morning.
Overall, Victrex has seen a solid start to 2015. Group revenue of £59.8m was 14% ahead of the prior year (Q1 2014: £52.4m), with Group sales volume of 967 tonnes 42% ahead of the prior year (Q1 2014: 679 tonnes). The strong volume comparative in Q1 largely reflects current Consumer Electronics business that did not contribute to the prior year quarter. Excluding Consumer Electronics, volume growth in the underlying business was slightly ahead year on year.
In our VPS business, Q1 continued to benefit from Consumer Electronics - in line with our previous guidance - and we now expect the current Consumer Electronics opportunity to continue into the second half of our financial year.
In our Invibio medical business, revenue was weaker in Q1.This reflects some short term impact from the current consolidation in the US medical device industry and we anticipate that Invibio will still make progress over the full year. Our focus for 2015 remains the roll-out of new products into the Spine market, alongside pre-development work for our new product platforms of Dental, Trauma and Knee.
David Hummel, Chief Executive of Victrex, said: "Overall, Victrex has made a solid start to 2015 and our focused strategy is helping to continue our growth momentum. At this early stage of the year, our expectations are unchanged and we remain well placed for the year ahead."
Victrex remains in a strong financial position, with a healthy balance sheet, good cash generation and no significant changes to our financial position since 30 September 2014.
//////////////////////////////////////////////////////////////////////////////////////////////
4 Feb JP Morgan... 1,800.00 Neutral
4 Feb Numis 2,106.00 Hold
4 Feb N+1 Singer 2,300.00 Buy
RNS
RNS Number : 9655D
Victrex PLC
04 February 2015
4 February 2015
Victrex plc
AGM and Q1 Interim Management Statement
'A solid start to 2015'
Victrex plc, an innovative world leader in high performance polymer solutions, today releases its first quarter (Q1) Interim Management Statement ahead of its Annual General Meeting being held this morning.
Overall, Victrex has seen a solid start to 2015. Group revenue of £59.8m was 14% ahead of the prior year (Q1 2014: £52.4m), with Group sales volume of 967 tonnes 42% ahead of the prior year (Q1 2014: 679 tonnes). The strong volume comparative in Q1 largely reflects current Consumer Electronics business that did not contribute to the prior year quarter. Excluding Consumer Electronics, volume growth in the underlying business was slightly ahead year on year.
In our VPS business, Q1 continued to benefit from Consumer Electronics - in line with our previous guidance - and we now expect the current Consumer Electronics opportunity to continue into the second half of our financial year.
In our Invibio medical business, revenue was weaker in Q1.This reflects some short term impact from the current consolidation in the US medical device industry and we anticipate that Invibio will still make progress over the full year. Our focus for 2015 remains the roll-out of new products into the Spine market, alongside pre-development work for our new product platforms of Dental, Trauma and Knee.
David Hummel, Chief Executive of Victrex, said: "Overall, Victrex has made a solid start to 2015 and our focused strategy is helping to continue our growth momentum. At this early stage of the year, our expectations are unchanged and we remain well placed for the year ahead."
Victrex remains in a strong financial position, with a healthy balance sheet, good cash generation and no significant changes to our financial position since 30 September 2014.
//////////////////////////////////////////////////////////////////////////////////////////////
4 Feb JP Morgan... 1,800.00 Neutral
4 Feb Numis 2,106.00 Hold
4 Feb N+1 Singer 2,300.00 Buy
dreamcatcher
- 06 Feb 2015 15:41
- 35 of 86
Questor share tip: Victrex has solid start
Strong sales of plastic polymers are driving the engineering group forward, says Questor.
Market expectations are for the company to make £104m in pre-tax profits over the full year, giving 96.8p in earnings per share on revenue of £267m
Market expectations are for the company to make £104m in pre-tax profits over the full year, giving 96.8p in earnings per share on revenue of £267m
By John Ficenec, Questor Editor
10:53PM GMT 05 Feb 2015
Victrex
£20.92-16p
Questor says HOLD
VICTREX [LON:VCT] is a British engineering group benefiting from strong demand for its unique polymer products across the world.
The FTSE 250 manufacturer, which has enjoyed a solid start to the new financial year, has developed a lightweight thermoplastic called “Peek”.
The material, which is resistant to extreme temperatures and chemicals, is being used to replace metal parts in aeroplanes such as the new Boeing 787, brake pads in cars and components in smartphones and medical implants.
Victrex also makes composite materials for use in repairing damaged spines.
The driving force behind the company’s recent expansion has been a strong automotive and aerospace market, as manufacturers transfer from metal to Peek products. Victrex, which has grown revenues from £220m in 2013 to £253m last year, is coming towards the end of the largest expansion in its history – the group is building a third Peek manufacturing plant to meet growing demand.
Capital investment hit £65m last year and David Hummel, chief executive, expects spending to fall to about £40m within the next 12 months.
The new financial year has started well, with sales for the three months to the end of December jumping 42pc to 967 tonnes, when compared with the same period a year earlier. Year-on-year revenue in its first financial quarter was up 14pc to £59.8m when compared with a year earlier.
Market expectations are for the company to make £104m in pre-tax profits over the full year, giving 96.8p in earnings per share on revenue of £267m. The performance in the first three months of its financial year leaves the company on target to meet these predictions.
Victrex will benefit from a weaker pound as 97pc of the products are exported, and more favourable currency movements will boost profits. The balance sheet is in a strong position and the company is highly cash generative.
The only problem is that the shares, trading on 21 times forecast earnings, already price in much of this good news. Hold.
Strong sales of plastic polymers are driving the engineering group forward, says Questor.
Market expectations are for the company to make £104m in pre-tax profits over the full year, giving 96.8p in earnings per share on revenue of £267m
Market expectations are for the company to make £104m in pre-tax profits over the full year, giving 96.8p in earnings per share on revenue of £267m
By John Ficenec, Questor Editor
10:53PM GMT 05 Feb 2015
Victrex
£20.92-16p
Questor says HOLD
VICTREX [LON:VCT] is a British engineering group benefiting from strong demand for its unique polymer products across the world.
The FTSE 250 manufacturer, which has enjoyed a solid start to the new financial year, has developed a lightweight thermoplastic called “Peek”.
The material, which is resistant to extreme temperatures and chemicals, is being used to replace metal parts in aeroplanes such as the new Boeing 787, brake pads in cars and components in smartphones and medical implants.
Victrex also makes composite materials for use in repairing damaged spines.
The driving force behind the company’s recent expansion has been a strong automotive and aerospace market, as manufacturers transfer from metal to Peek products. Victrex, which has grown revenues from £220m in 2013 to £253m last year, is coming towards the end of the largest expansion in its history – the group is building a third Peek manufacturing plant to meet growing demand.
Capital investment hit £65m last year and David Hummel, chief executive, expects spending to fall to about £40m within the next 12 months.
The new financial year has started well, with sales for the three months to the end of December jumping 42pc to 967 tonnes, when compared with the same period a year earlier. Year-on-year revenue in its first financial quarter was up 14pc to £59.8m when compared with a year earlier.
Market expectations are for the company to make £104m in pre-tax profits over the full year, giving 96.8p in earnings per share on revenue of £267m. The performance in the first three months of its financial year leaves the company on target to meet these predictions.
Victrex will benefit from a weaker pound as 97pc of the products are exported, and more favourable currency movements will boost profits. The balance sheet is in a strong position and the company is highly cash generative.
The only problem is that the shares, trading on 21 times forecast earnings, already price in much of this good news. Hold.
dreamcatcher
- 24 Feb 2015 21:38
- 36 of 86
The Telegraph - Victrex, a maker of specialist lightweight polymers, which slumped 162p to £19.55 after Solvay announced it would build a new polymers plant in the US. Citi analysts said the move meant Solvay “is likely to emerge for the first time as a serious competitor to Victrex”.
HARRYCAT
- 09 Apr 2015 07:54
- 37 of 86
StockMarketWire.com
Victrex said, overall, it delivered a good H1 performance. Group revenue of £130.3m was 9% ahead of the prior year (H1 2014: £119.9m), with Group sales volume of 2,028 tonnes 28% ahead of the prior year (H1 2014: 1,584 tonnes).
The first half performance reflects a continuing positive contribution from Consumer Electronics and slightly lower sales in its Invibio medical business. Group gross margins saw improvement compared to the first half of 2014, reflecting better manufacturing efficiencies.
In Victrex Polymer Solutions (VPS), lower sales into oil and gas were offset by growth in other markets. Commissioning of the first production stream on its third PEEK manufacturing plant is now complete and successfully started up on schedule.
In Invibio, performance reflected the impact from industry consolidation in the US during Q1, as previously communicated, although it saw an improvement in Q2. Invibio revenue of £25.9m was 4% down on the prior year (H1 2014: £26.9m) and flat in constant currency, although Victrex's focus remains on continued improvement as it enters the second half.
The adverse currency impact seen by the Group during the first half will also continue into the second half. However, as previously communicated, Victrex continue to expect that it will fully overcome the currency impact for the full year.
CEO David Hummel said:
"Victrex delivered a good first half performance overall. Although we are mindful of the tougher comparatives for the second half and the continued caution in the oil and gas market, we remain well positioned for progress over the full year."
Victrex said, overall, it delivered a good H1 performance. Group revenue of £130.3m was 9% ahead of the prior year (H1 2014: £119.9m), with Group sales volume of 2,028 tonnes 28% ahead of the prior year (H1 2014: 1,584 tonnes).
The first half performance reflects a continuing positive contribution from Consumer Electronics and slightly lower sales in its Invibio medical business. Group gross margins saw improvement compared to the first half of 2014, reflecting better manufacturing efficiencies.
In Victrex Polymer Solutions (VPS), lower sales into oil and gas were offset by growth in other markets. Commissioning of the first production stream on its third PEEK manufacturing plant is now complete and successfully started up on schedule.
In Invibio, performance reflected the impact from industry consolidation in the US during Q1, as previously communicated, although it saw an improvement in Q2. Invibio revenue of £25.9m was 4% down on the prior year (H1 2014: £26.9m) and flat in constant currency, although Victrex's focus remains on continued improvement as it enters the second half.
The adverse currency impact seen by the Group during the first half will also continue into the second half. However, as previously communicated, Victrex continue to expect that it will fully overcome the currency impact for the full year.
CEO David Hummel said:
"Victrex delivered a good first half performance overall. Although we are mindful of the tougher comparatives for the second half and the continued caution in the oil and gas market, we remain well positioned for progress over the full year."
dreamcatcher
- 20 Apr 2015 17:35
- 38 of 86
20 Apr Exane BNP... 2,500.00 Outperform
20 Apr Barclays... 2,300.00 Overweight
20 Apr Barclays... 2,300.00 Overweight
dreamcatcher
- 13 May 2015 18:43
- 39 of 86
13 May Credit Suisse 2,400.00 Outperform
dreamcatcher
- 19 May 2015 17:08
- 40 of 86
dreamcatcher
- 19 May 2015 17:09
- 41 of 86
19 May Credit Suisse 2,400.00 Outperform
dreamcatcher
- 10 Jun 2015 21:08
- 42 of 86
Ex dividend 11 Jun 2015 Victrex PLC (11.7 P)
dreamcatcher
- 07 Jul 2015 17:11
- 43 of 86
upgrade - 7 Jul Numis 2,233.00 Add
dreamcatcher
- 30 Sep 2015 18:37
- 44 of 86
Market Buzz
Victrex rallies as Liberum initiates stock at 'buy' following selloff
Wed, 30 September 2015
Victrex plc Quote more
Price: 1,772.00
Chg: 110.00
Chg %: 6.62%
Date: 16:55
FTSE 250 Quote
Price: 16,683.02 Chg: 240.53 Chg %: 1.46% Date: 17:14
(ShareCast News) - Shares in polymer solutions company Victrex rallied after Liberum initiated coverage of the stock at 'buy' with a 2,200p price target.
"We believe it is a great time to buy following a selloff in the shares year-to-date and the completion of a major investment programme that heralds a period of strong cash flow and further cash return potential of 200p," it said.
Victrex recently completed a major capacity expansion programme at its main production site in Lancashire which Liberum reckons provides sufficient headroom in powder and film manufacturing for the next decade.
The brokerage noted that Victrex shares were hit hard this year by concerns about rival capacity increases and trading risks.
Liberum said it believes Victrex and the industry are capable of sustaining high-single digit volume growth over the next five years driven by ongoing industrial and medical demand for lighter/stronger materials which are easy to process and manufacture.
As far as structural growth is concerned, Liberum pointed out that the 10-year compound annual growth rate has been 15%. The brokerage believes strong growth remains, with seven major new product platforms being commercialised and a total industry volume potential 9 times today's capacity.
At 1058 BST, Victrex shares were up 4.3% at 1,733p.
Victrex rallies as Liberum initiates stock at 'buy' following selloff
Wed, 30 September 2015
Victrex plc Quote more
Price: 1,772.00
Chg: 110.00
Chg %: 6.62%
Date: 16:55
FTSE 250 Quote
Price: 16,683.02 Chg: 240.53 Chg %: 1.46% Date: 17:14
(ShareCast News) - Shares in polymer solutions company Victrex rallied after Liberum initiated coverage of the stock at 'buy' with a 2,200p price target.
"We believe it is a great time to buy following a selloff in the shares year-to-date and the completion of a major investment programme that heralds a period of strong cash flow and further cash return potential of 200p," it said.
Victrex recently completed a major capacity expansion programme at its main production site in Lancashire which Liberum reckons provides sufficient headroom in powder and film manufacturing for the next decade.
The brokerage noted that Victrex shares were hit hard this year by concerns about rival capacity increases and trading risks.
Liberum said it believes Victrex and the industry are capable of sustaining high-single digit volume growth over the next five years driven by ongoing industrial and medical demand for lighter/stronger materials which are easy to process and manufacture.
As far as structural growth is concerned, Liberum pointed out that the 10-year compound annual growth rate has been 15%. The brokerage believes strong growth remains, with seven major new product platforms being commercialised and a total industry volume potential 9 times today's capacity.
At 1058 BST, Victrex shares were up 4.3% at 1,733p.
dreamcatcher
- 01 Oct 2015 12:00
- 45 of 86
1 Oct Barclays... 2,300.00 Overweight
dreamcatcher
- 05 Oct 2015 16:48
- 46 of 86
5 Oct Berenberg 2,230.00 Buy
dreamcatcher
- 09 Oct 2015 14:09
- 47 of 86
dreamcatcher
- 16 May 2016 18:39
- 48 of 86
dreamcatcher
- 16 May 2016 18:39
- 49 of 86
16 May Liberum Capital 2,200.00 Buy
16 May Peel Hunt 2,100.00 Buy
16 May Peel Hunt 2,100.00 Buy
kimoldfield
- 16 May 2016 21:06
- 50 of 86
He who hesitates.............................DAMN! Ah well, there's always tomorrow!
dreamcatcher
- 17 May 2016 18:04
- 51 of 86
17 May Numis 1,910.00 Buy
17 May Exane BNP... 1,500.00 Neutral
17 May JP Morgan... 1,450.00 Neutral
17 May Deutsche Bank 1,650.00 Hold
16 May Liberum Capital 2,200.00 Buy
16 May Peel Hunt 2,100.00 Buy
17 May Exane BNP... 1,500.00 Neutral
17 May JP Morgan... 1,450.00 Neutral
17 May Deutsche Bank 1,650.00 Hold
16 May Liberum Capital 2,200.00 Buy
16 May Peel Hunt 2,100.00 Buy
dreamcatcher
- 27 May 2016 19:06
- 52 of 86
Broker Forecast - Liberum Capital issues a broker note on Victrex PLC
Liberum Capital today reaffirms its buy investment rating on Victrex PLC (LON:VCT) and set its price target at 2100p. Story provided by StockMarketWire.com
Liberum Capital today reaffirms its buy investment rating on Victrex PLC (LON:VCT) and set its price target at 2100p. Story provided by StockMarketWire.com
dreamcatcher
- 11 Oct 2016 21:23
- 53 of 86
Trading Statement
RNS
RNS Number : 1617M
Victrex PLC
11 October 2016
11 October 2016
Victrex plc: Full year and pre-close trading update
'Improved second half; good finish to 2016'
Victrex plc, an innovative world leader in high performance polymer solutions, today releases its full year and pre-close trading update for the financial year ended 30 September 2016, ahead of its preliminary results on 6 December 2016.
In line with expectations, Victrex delivered an improved performance in the second half and a good finish to 2016.
The core business was in growth, with Aerospace and Automotive performing well, and a more stable performance in Oil & Gas during the second half. Sales volumes for the large Consumer Electronics business were delivered on plan during Q4, with overall second half volumes more than double those in the first half. Q4, overall, saw a good performance with Group revenue up 8% to £73.7m (Q4 2015: £68.0m) and Q4 Group sales volume up 9% to 1,216 tonnes (Q4 2015: 1,119 tonnes).
Despite a positive finish to 2016, full year Group revenue declined by 4% to £252.3m (FY2015: £263.5m), reflecting the year on year fall in Consumer Electronics volumes, which were more than 30% down. Full year Group sales volume was down 6% at 3,952 tonnes (FY 2015: 4,217 tonnes).
Medical revenue (Invibio) for the full year of £50.8m (FY 2015: £50.5m) reflects a stable Spine market in the US. Growth outside of the US, in emerging markets, remains positive.
Our mega-programmes continue to make progress, with the Magma Oil & Gas project delivering first meaningful revenues of over £1m in FY16. Incremental investment opportunities aligned to our mega-programmes are also being progressed, which would further support delivery of the Group's downstream strategy and growth pipeline.
Outlook
As we start our new financial year, our core business remains robust. However, we remain mindful, as previously communicated, that our early planning assumption suggests Consumer Electronics volumes will be significantly lower in 2017, compared to 2016. This would also impact our operating leverage.
Whilst we will continue to invest in our 'front end' commercial, marketing and technical functions, to help drive adoption of our mega-programmes, we will also further enhance our ongoing focus on cost efficiency opportunities over the coming year.
With a differentiated strategy, a strong pipeline and a highly cash generative business model, Victrex remains in a good position to drive shareholder value for the medium to longer term.
RNS
RNS Number : 1617M
Victrex PLC
11 October 2016
11 October 2016
Victrex plc: Full year and pre-close trading update
'Improved second half; good finish to 2016'
Victrex plc, an innovative world leader in high performance polymer solutions, today releases its full year and pre-close trading update for the financial year ended 30 September 2016, ahead of its preliminary results on 6 December 2016.
In line with expectations, Victrex delivered an improved performance in the second half and a good finish to 2016.
The core business was in growth, with Aerospace and Automotive performing well, and a more stable performance in Oil & Gas during the second half. Sales volumes for the large Consumer Electronics business were delivered on plan during Q4, with overall second half volumes more than double those in the first half. Q4, overall, saw a good performance with Group revenue up 8% to £73.7m (Q4 2015: £68.0m) and Q4 Group sales volume up 9% to 1,216 tonnes (Q4 2015: 1,119 tonnes).
Despite a positive finish to 2016, full year Group revenue declined by 4% to £252.3m (FY2015: £263.5m), reflecting the year on year fall in Consumer Electronics volumes, which were more than 30% down. Full year Group sales volume was down 6% at 3,952 tonnes (FY 2015: 4,217 tonnes).
Medical revenue (Invibio) for the full year of £50.8m (FY 2015: £50.5m) reflects a stable Spine market in the US. Growth outside of the US, in emerging markets, remains positive.
Our mega-programmes continue to make progress, with the Magma Oil & Gas project delivering first meaningful revenues of over £1m in FY16. Incremental investment opportunities aligned to our mega-programmes are also being progressed, which would further support delivery of the Group's downstream strategy and growth pipeline.
Outlook
As we start our new financial year, our core business remains robust. However, we remain mindful, as previously communicated, that our early planning assumption suggests Consumer Electronics volumes will be significantly lower in 2017, compared to 2016. This would also impact our operating leverage.
Whilst we will continue to invest in our 'front end' commercial, marketing and technical functions, to help drive adoption of our mega-programmes, we will also further enhance our ongoing focus on cost efficiency opportunities over the coming year.
With a differentiated strategy, a strong pipeline and a highly cash generative business model, Victrex remains in a good position to drive shareholder value for the medium to longer term.
dreamcatcher
- 11 Oct 2016 21:27
- 54 of 86
11 Oct
N+1 Singer
1,730.00
Buy
11 Oct
Liberum Capital
2,100.00
Buy
11 Oct
Peel Hunt
1,900.00
Buy
N+1 Singer
1,730.00
Buy
11 Oct
Liberum Capital
2,100.00
Buy
11 Oct
Peel Hunt
1,900.00
Buy
dreamcatcher
- 07 Dec 2016 16:49
- 55 of 86
Final results
Highlights:
• Good finish to 2016
- Core business in growth; improved second half with core volumes up 9% on H2 2015
- Continued growth in Auto & Aero, Oil & Gas stable, Medical in-line
- Consumer Electronics volumes >400 tonnes in H2 2016; remain cautious on 2017
- Full year performance impacted by weaker H1 & lower overall Consumer Electronics
• Good progress accelerating growth pipeline
- Meaningful revenue of £1m+ for Magma Oil & Gas mega-programme
- Gears accelerated; initial revenue from Auto development programmes
- Trauma development agreement with major US medical device manufacturer
- Over 1,000 patient implants for PEEK-OPTIMATM HA Enhanced
• Continued growth investment to further develop downstream strategy
- Strategic investment of minority interest in Magma Global for £10m
- Composite manufacturing investments underpin Aerospace, Medical and Magma
· New Trauma and Composite facilities operational
- Continued 'front-end' commercial investment; supported through focus on cost efficiency
• Cash generation remains strong
- Net cash up 19% to £64.0m
- Final dividend of 35.09p (2015: 35.09p)
Highlights:
• Good finish to 2016
- Core business in growth; improved second half with core volumes up 9% on H2 2015
- Continued growth in Auto & Aero, Oil & Gas stable, Medical in-line
- Consumer Electronics volumes >400 tonnes in H2 2016; remain cautious on 2017
- Full year performance impacted by weaker H1 & lower overall Consumer Electronics
• Good progress accelerating growth pipeline
- Meaningful revenue of £1m+ for Magma Oil & Gas mega-programme
- Gears accelerated; initial revenue from Auto development programmes
- Trauma development agreement with major US medical device manufacturer
- Over 1,000 patient implants for PEEK-OPTIMATM HA Enhanced
• Continued growth investment to further develop downstream strategy
- Strategic investment of minority interest in Magma Global for £10m
- Composite manufacturing investments underpin Aerospace, Medical and Magma
· New Trauma and Composite facilities operational
- Continued 'front-end' commercial investment; supported through focus on cost efficiency
• Cash generation remains strong
- Net cash up 19% to £64.0m
- Final dividend of 35.09p (2015: 35.09p)
dreamcatcher
- 07 Dec 2016 16:50
- 56 of 86
10:30 07/12/2016
Broker Forecast - Deutsche Bank issues a broker note on Victrex PLC
Deutsche Bank today reaffirms its hold investment rating on Victrex PLC (LON:VCT) and raised its price target to 1700p (from 1650p). Story provided by StockMarketWire.com
Broker Forecast - Deutsche Bank issues a broker note on Victrex PLC
Deutsche Bank today reaffirms its hold investment rating on Victrex PLC (LON:VCT) and raised its price target to 1700p (from 1650p). Story provided by StockMarketWire.com
dreamcatcher
- 06 Feb 2017 18:31
- 57 of 86
6 Feb Liberum Capital 2,245.00 Buy
6 Feb Peel Hunt 2,100.00 Add
6 Feb Peel Hunt 2,100.00 Add
dreamcatcher
- 08 Feb 2017 07:09
- 58 of 86
AGM Statement
RNS
RNS Number : 2728W
Victrex PLC
08 February 2017
8 February 2017
Victrex plc
AGM and Q1 Interim Management Statement
'A solid start to 2017 - strong growth in core business'
Victrex plc, an innovative world leader in high performance polymer solutions, today releases its first quarter (Q1) Interim Management Statement ahead of its Annual General Meeting (AGM) being held today.
Victrex made a solid start to 2017, with a strong performance in the core business compared to a weak Q1 2016. Q1 2017 sales volumes in the core business (excluding Consumer Electronics) were 25% ahead of the prior year quarter, reflecting growth across Automotive, Aerospace, Energy & Industrial and Value Adding Resellers. Electronics, outside of the large Consumer Electronics order, also saw growth. Q1 2017 performance was offset by Medical, which was behind last year, principally due to phasing.
Overall, Q1 2017 Group revenue of £55.7m was broadly in line with the prior year (Q1 2016: £56.0m), with Q1 2017 Group volumes of 810 tonnes down 6% (Q1 2016: 860 tonnes). Q1 2017 performance reflected, as expected, the very limited volumes from the large Consumer Electronics order, compared to much stronger volumes in the prior year.
Victrex retains a highly cash generative business model, with no significant changes to its financial position since 30 September 2016.
Joint-venture to accelerate Aerospace Loaded Brackets mega-programme
Victrex is also announcing today that it is investing to help accelerate its Aerospace Loaded Brackets mega-programme, via a joint-venture with Tri-Mack Plastics, a proven partner for manufacturing semi-finished and finished parts within Aerospace.
The joint-venture, TxV Aerospace Composites, will focus on developing a new supply chain, with the capability to manufacture, at scale, unique and differentiated Loaded Brackets, blending new PEEK and PAEK polymer grades and composite materials. Victrex will have the majority share of the JV and total capital expenditure from Victrex is anticipated to be around £10m, spread over the next three years.
The Aerospace Loaded Brackets programme will utilise a differentiated and protectable solution, with an "over-moulded" bracket offering up to 60% weight saving compared to metals, as well as quicker manufacturing. This solution has multiple application opportunities, particularly within aircraft interiors. Following pre-qualification of this semi-finished product with major customers and initial prototype revenue during 2016, a new manufacturing facility in the US will offer the potential to capture significant growth opportunities. Industry projections suggest thermoplastic composites in Aerospace could increase to over 5000 tonnes by 2025-30, compared to the current 2000 tonnes (source: Composites World).
David Hummel, Chief Executive of Victrex, said: "This is an exciting acceleration opportunity which builds on our Kleiss and Magma investments and is in line with the Group's strategy to move further downstream into selected and differentiated semi-finished products.
"We will continue to pursue acceleration options across several of our mega-programmes, whether organically, through partnership or acquisition. Further strengthening and accelerating our growth pipeline remains a key priority for Victrex."
Outlook
At this early stage of the year and with our core business in growth, a continued focus on cost efficiency and a favourable currency environment, we remain comfortable with expectations for 2017.
Victrex will provide an update on its strategy and growth pipeline - 'Polymer to parts' - at a Capital Markets Day in London on Tuesday 28th March 2017
dreamcatcher
- 06 Apr 2017 19:36
- 59 of 86
Acquisition
RNS
RNS Number : 7213B
Victrex PLC
06 April 2017
6 April 2017
Victrex plc
Acquisition of Zyex offers further downstream growth opportunities
Victrex plc, an innovative world leader in high performance polymer solutions, today announces that it has acquired UK based Zyex, which is recognised as a global leader in the manufacture of PEEK based fibres, principally for the Aerospace, Automotive and Industrial markets. The acquisition was made for a cash consideration of £10m and offers further downstream growth opportunities in the developing fibre applications area.
The investment is in line with Victrex's downstream strategy and focus on selected semi-finished and differentiated products, based on PEEK and PAEK polymers. Zyex is a well-established and profitable business, based solely on PEEK products. Beyond opportunities from existing applications, the investment will also enable Victrex to explore the potential of 3D printing within the fibres area, building on its own 3D printing consortium announced in 2016.
David Hummel, Chief Executive of Victrex, said: "The acquisition of Zyex is compelling for Victrex, enabling us to not only drive future growth opportunities within well-aligned markets and developing application areas, but to also secure some incremental revenue today.
"Like Victrex, Zyex was formed out of ICI and the two companies coming together is a natural evolution. Whilst Zyex is well-established, Victrex's global reach, innovation focus and proven track record of building new markets offers an attractive opportunity to further develop the business over the coming years. This is in line with our strategy to offer selected and differentiated semi-finished product forms and parts for our customers, building on our core polymer offering."
Zyex had revenues of approximately £7m to 31 March 2016. The business employs 22 people at its manufacturing facilities in Gloucestershire, UK.
RNS
RNS Number : 7213B
Victrex PLC
06 April 2017
6 April 2017
Victrex plc
Acquisition of Zyex offers further downstream growth opportunities
Victrex plc, an innovative world leader in high performance polymer solutions, today announces that it has acquired UK based Zyex, which is recognised as a global leader in the manufacture of PEEK based fibres, principally for the Aerospace, Automotive and Industrial markets. The acquisition was made for a cash consideration of £10m and offers further downstream growth opportunities in the developing fibre applications area.
The investment is in line with Victrex's downstream strategy and focus on selected semi-finished and differentiated products, based on PEEK and PAEK polymers. Zyex is a well-established and profitable business, based solely on PEEK products. Beyond opportunities from existing applications, the investment will also enable Victrex to explore the potential of 3D printing within the fibres area, building on its own 3D printing consortium announced in 2016.
David Hummel, Chief Executive of Victrex, said: "The acquisition of Zyex is compelling for Victrex, enabling us to not only drive future growth opportunities within well-aligned markets and developing application areas, but to also secure some incremental revenue today.
"Like Victrex, Zyex was formed out of ICI and the two companies coming together is a natural evolution. Whilst Zyex is well-established, Victrex's global reach, innovation focus and proven track record of building new markets offers an attractive opportunity to further develop the business over the coming years. This is in line with our strategy to offer selected and differentiated semi-finished product forms and parts for our customers, building on our core polymer offering."
Zyex had revenues of approximately £7m to 31 March 2016. The business employs 22 people at its manufacturing facilities in Gloucestershire, UK.
dreamcatcher
- 16 May 2017 18:50
- 60 of 86
dreamcatcher
- 16 May 2017 18:51
- 61 of 86
16 May
Deutsche Bank
1,850.00
Hold
16 May
Liberum Capital
2,240.00
Buy
16 May
JP Morgan...
1,800.00
Neutral
16 May
Berenberg
2,000.00
Hold
Deutsche Bank
1,850.00
Hold
16 May
Liberum Capital
2,240.00
Buy
16 May
JP Morgan...
1,800.00
Neutral
16 May
Berenberg
2,000.00
Hold
dreamcatcher
- 24 Jul 2017 21:30
- 62 of 86
Market buzz - Victrex, the plastics group, will update on its third-quarter performance, following a strong first half when sales volumes rose 5%, revenues 12% and profit before tax 5%. On the outlook, the company said there is "potential for variability in the scale of consumer electronics volumes" in the second half, with visibility remaining low, leading the board refused to upgrade its full year expectations.
So there is potential for this to go either way. Deutsche Bank forecast sales volumes up 7% to 1,030 tonnes as weakness in consumer electronics is more than offset by growth in other areas of the VPS industrial business, such as transport, energy and other electronics applications and resellers. "We expect group revenues of £70m, up 16% YoY driven by growth in VPS and further FX benefits while Invibio is expected to remain flat," analysts said, predicting average selling prices are likely to be modestly better than the first half due to increased forex benefits.
So there is potential for this to go either way. Deutsche Bank forecast sales volumes up 7% to 1,030 tonnes as weakness in consumer electronics is more than offset by growth in other areas of the VPS industrial business, such as transport, energy and other electronics applications and resellers. "We expect group revenues of £70m, up 16% YoY driven by growth in VPS and further FX benefits while Invibio is expected to remain flat," analysts said, predicting average selling prices are likely to be modestly better than the first half due to increased forex benefits.
dreamcatcher
- 25 Jul 2017 22:10
- 63 of 86
Trading Statement
RNS
RNS Number : 9436L
Victrex PLC
25 July 2017
25 July 2017
Victrex plc: Interim Management Statement
'Continued growth; well-placed for FY17'
Victrex plc, an innovative world leader in high performance polymer solutions, today releases its Interim Management Statement for the third quarter (Q3) covering the period 1 April to 30 June 2017.
The Group has performed well since the end of the first half and cash generation has continued to be strong.
Although the second half sees a tougher volume comparative, particularly for Q4, our core business has remained in good growth, with Automotive, Electronics (ex-Consumer) and Value Added Resellers being notably strong. As expected, whilst we saw some Consumer Electronics volumes during Q3, these were lower than the prior year.
In Medical, the mature US Spine market continues to be a challenge to short term-growth although Q3 performance was slightly ahead of the prior year in constant currency. Pleasingly, our differentiated and innovative PEEK-OPTIMATM HA Enhanced product, a premium and next generation offering which promotes bone-on growth, has now secured first meaningful revenues of over £1m and adoption rates are progressing.
Overall, Q3 Group revenue* was up 26% to £76.3m (Q3 2016: £60.6m), with Group sales volume up 6% to 1,022 tonnes (Q3 2016: 966 tonnes). Year to date Group sales volume of 2,881 tonnes is 5% up on the prior year (2016 YTD: 2,736 tonnes), with year to date Group revenue of £207.3m up 17% (2016 YTD: £177.6m).
Currency continues to support top-line revenues, with hedges placed at more favourable currency rates benefiting us during the second half year. The anticipated currency benefit for our 2017 financial year is unchanged, and is expected to be weighted approximately one-third/two-thirds between the first and second half. For 2018, we are now over 60% covered for our currency hedging programme.
In our growth pipeline, as well as meaningful revenue for PEEK-OPTIMATM HA Enhanced, several 2017 milestones have now been delivered. In Automotive, in addition to our agreement to supply PEEK Gears to a major European Automotive manufacturer from 2018, we now have several new market-wide development programmes with global manufacturers. In Aerospace, construction of our US manufacturing facility is progressing for our TxV Aero Composites joint venture, following pre-qualification of our differentiated grades for loaded brackets last year. We are also developing some strategic alliances in the Aerospace supply chain, as part of our focus on composite parts, to complement this joint-venture.
Outlook
For the remainder of 2017, Consumer Electronics volumes are now expected to be lower than our previous guidance, although market-wide engagement programmes are progressing, offering both volume and value opportunities for 2018, including for differentiated applications. Overall, our strong core business performance is more than offsetting lower Consumer Electronics and may now offer a degree of upside potential for the full year. Victrex remains well placed for 2017 and we continue to be comfortable with current expectations.
For the medium to longer term, Victrex remains in a good position, with a Polymer & Parts strategy to increase our differentiation, a strong pipeline of potentially game-changing projects, a focus on cost efficiency and a highly cash generative business model.
Notes:
*Q3 and YTD revenue for FY 2017 includes sales from the Zyex PEEK fibres acquisition (completed in April 2017).
RNS
RNS Number : 9436L
Victrex PLC
25 July 2017
25 July 2017
Victrex plc: Interim Management Statement
'Continued growth; well-placed for FY17'
Victrex plc, an innovative world leader in high performance polymer solutions, today releases its Interim Management Statement for the third quarter (Q3) covering the period 1 April to 30 June 2017.
The Group has performed well since the end of the first half and cash generation has continued to be strong.
Although the second half sees a tougher volume comparative, particularly for Q4, our core business has remained in good growth, with Automotive, Electronics (ex-Consumer) and Value Added Resellers being notably strong. As expected, whilst we saw some Consumer Electronics volumes during Q3, these were lower than the prior year.
In Medical, the mature US Spine market continues to be a challenge to short term-growth although Q3 performance was slightly ahead of the prior year in constant currency. Pleasingly, our differentiated and innovative PEEK-OPTIMATM HA Enhanced product, a premium and next generation offering which promotes bone-on growth, has now secured first meaningful revenues of over £1m and adoption rates are progressing.
Overall, Q3 Group revenue* was up 26% to £76.3m (Q3 2016: £60.6m), with Group sales volume up 6% to 1,022 tonnes (Q3 2016: 966 tonnes). Year to date Group sales volume of 2,881 tonnes is 5% up on the prior year (2016 YTD: 2,736 tonnes), with year to date Group revenue of £207.3m up 17% (2016 YTD: £177.6m).
Currency continues to support top-line revenues, with hedges placed at more favourable currency rates benefiting us during the second half year. The anticipated currency benefit for our 2017 financial year is unchanged, and is expected to be weighted approximately one-third/two-thirds between the first and second half. For 2018, we are now over 60% covered for our currency hedging programme.
In our growth pipeline, as well as meaningful revenue for PEEK-OPTIMATM HA Enhanced, several 2017 milestones have now been delivered. In Automotive, in addition to our agreement to supply PEEK Gears to a major European Automotive manufacturer from 2018, we now have several new market-wide development programmes with global manufacturers. In Aerospace, construction of our US manufacturing facility is progressing for our TxV Aero Composites joint venture, following pre-qualification of our differentiated grades for loaded brackets last year. We are also developing some strategic alliances in the Aerospace supply chain, as part of our focus on composite parts, to complement this joint-venture.
Outlook
For the remainder of 2017, Consumer Electronics volumes are now expected to be lower than our previous guidance, although market-wide engagement programmes are progressing, offering both volume and value opportunities for 2018, including for differentiated applications. Overall, our strong core business performance is more than offsetting lower Consumer Electronics and may now offer a degree of upside potential for the full year. Victrex remains well placed for 2017 and we continue to be comfortable with current expectations.
For the medium to longer term, Victrex remains in a good position, with a Polymer & Parts strategy to increase our differentiation, a strong pipeline of potentially game-changing projects, a focus on cost efficiency and a highly cash generative business model.
Notes:
*Q3 and YTD revenue for FY 2017 includes sales from the Zyex PEEK fibres acquisition (completed in April 2017).
dreamcatcher
- 04 Sep 2017 19:11
- 64 of 86
Reduction in effective tax rate
RNS
RNS Number : 6641P
Victrex PLC
04 September 2017
4 September 2017
Victrex plc
Reduction in Group's effective tax rate under Patent Box
Victrex plc, an innovative world leader in high performance polymer solutions, today announces that, based on recently-granted UK patents and following discussions with Her Majesty's Revenue & Customs (HMRC) about the UK's Patent Box legislation1, we now expect our tax rate to be materially lower than previous guidance.
With a strong history of investing in research and development (R&D) and of patenting our Intellectual Property (IP), Victrex's strategy of moving downstream from Polymer to Parts, and further differentiating our business through product leadership, will continue to be supported by our approach to R&D investment, to innovation and IP protection.
Starting in the current financial year ending 30th September 20172, we anticipate the annualised impact of Patent Box to reduce the Group's effective tax rate from approximately 21% to around 12%, with an ongoing favourable impact on earnings per share (EPS) and cash, although no cash benefit would be seen in FY17.
At a trading level, Victrex continues to be comfortable with current expectations.
This announcement contains inside information.
Notes:
1 The UK's Patent Box legislation was introduced in April 2013. The UK government encourages high-value growth in UK plc through a competitive tax regime that supports UK R&D from conception to commercialisation. The Patent Box forms a key part of this strategy by encouraging companies to commercialise their patents and R&D in the UK
2 IFRS requires tax to be recognised on the most likely outcome. The directors consider the acceptance of Patent Box in the 2017 computations to be more likely than not, although as with all tax items, HMRC reserve the right to query the Company's calculations
RNS
RNS Number : 6641P
Victrex PLC
04 September 2017
4 September 2017
Victrex plc
Reduction in Group's effective tax rate under Patent Box
Victrex plc, an innovative world leader in high performance polymer solutions, today announces that, based on recently-granted UK patents and following discussions with Her Majesty's Revenue & Customs (HMRC) about the UK's Patent Box legislation1, we now expect our tax rate to be materially lower than previous guidance.
With a strong history of investing in research and development (R&D) and of patenting our Intellectual Property (IP), Victrex's strategy of moving downstream from Polymer to Parts, and further differentiating our business through product leadership, will continue to be supported by our approach to R&D investment, to innovation and IP protection.
Starting in the current financial year ending 30th September 20172, we anticipate the annualised impact of Patent Box to reduce the Group's effective tax rate from approximately 21% to around 12%, with an ongoing favourable impact on earnings per share (EPS) and cash, although no cash benefit would be seen in FY17.
At a trading level, Victrex continues to be comfortable with current expectations.
This announcement contains inside information.
Notes:
1 The UK's Patent Box legislation was introduced in April 2013. The UK government encourages high-value growth in UK plc through a competitive tax regime that supports UK R&D from conception to commercialisation. The Patent Box forms a key part of this strategy by encouraging companies to commercialise their patents and R&D in the UK
2 IFRS requires tax to be recognised on the most likely outcome. The directors consider the acceptance of Patent Box in the 2017 computations to be more likely than not, although as with all tax items, HMRC reserve the right to query the Company's calculations
dreamcatcher
- 04 Sep 2017 19:12
- 65 of 86
4 Sep
Liberum Capital
2,440.00
Buy
Liberum Capital
2,440.00
Buy
dreamcatcher
- 05 Sep 2017 16:54
- 66 of 86
5 Sep
Peel Hunt
2,300.00
Add
5 Sep
Jefferies...
2,268.00
Hold
5 Sep
Deutsche Bank
2,050.00
Hold
5 Sep
JP Morgan...
2,150.00
Neutral
4 Sep
Liberum Capital
2,440.00
Buy
Peel Hunt
2,300.00
Add
5 Sep
Jefferies...
2,268.00
Hold
5 Sep
Deutsche Bank
2,050.00
Hold
5 Sep
JP Morgan...
2,150.00
Neutral
4 Sep
Liberum Capital
2,440.00
Buy
T110Mikey - 06 Sep 2017 08:41 - 67 of 86
Anyone subscribing to the MoneyAM Level 2 platform please take note that most days it is not reporting the correct Trade High nor Trade Low information and "some days" not reporting the correct Opening Price or Closing Price.
The reason is because MoneyAM's Level 2 system is not correctly sensing the Auto Trades or Ordinary Trades correctly so is wrongly reporting them
The reason is because MoneyAM's Level 2 system is not correctly sensing the Auto Trades or Ordinary Trades correctly so is wrongly reporting them
dreamcatcher
- 06 Sep 2017 16:32
- 68 of 86
11:50 06/09/2017
Broker Forecast - Berenberg issues a broker note on Victrex PLC
Berenberg today upgrades its investment rating on Victrex PLC (LON:VCT) to buy (from hold) and raised its price target to 2600p (from 2000p). Story provided by StockMarketWire.com
Broker Forecast - Berenberg issues a broker note on Victrex PLC
Berenberg today upgrades its investment rating on Victrex PLC (LON:VCT) to buy (from hold) and raised its price target to 2600p (from 2000p). Story provided by StockMarketWire.com
dreamcatcher
- 28 Sep 2017 08:23
- 69 of 86
28 Sep
Deutsche Bank
2,200.00
Hold
27 Sep
JP Morgan...
2,150.00
Neutral
Deutsche Bank
2,200.00
Hold
27 Sep
JP Morgan...
2,150.00
Neutral
dreamcatcher
- 02 Dec 2017 13:10
- 70 of 86
Tuesday 5 Dec trading statement
dreamcatcher
- 05 Dec 2017 22:04
- 71 of 86
dreamcatcher
- 06 Dec 2017 17:04
- 72 of 86
Shares yesterday - Christmas has come early for investors at polymer manufacturer Victrex (VCT) as it declares a special dividend of 69p per share, beating expectations of 50p per share.
dreamcatcher
- 09 Feb 2018 16:31
- 73 of 86
08:40 09/02/2018
Broker Forecast - Liberum Capital issues a broker note on Victrex PLC
Liberum Capital today reaffirms its buy investment rating on Victrex PLC (LON:VCT) and raised its price target to 2825p (from 2770p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
Broker Forecast - Liberum Capital issues a broker note on Victrex PLC
Liberum Capital today reaffirms its buy investment rating on Victrex PLC (LON:VCT) and raised its price target to 2825p (from 2770p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
dreamcatcher
- 09 Feb 2018 16:39
- 74 of 86
Victrex 1Q revenue up 45%, sees possible upside to expectations
StockMarketWire.com
Plastics provider Victrex said revenue in the first quarter was up 41% on-year, as a strong performance in its industrial business offset a slightly weaker performance in its medical business.
Revenue grew to £78.7m, compared to a weaker comparative quarter the year before. Sales volumes of 1,051 tonnes were 30% ahead of the prior year.
Revenue growth also reflected currency hedging, sales from the acquisition of Zyex and a large volume of consumer electronics orders, Victrex said.
'Excluding these items, our underlying momentum is broadly unchanged from the positive performance we saw in the second half of 2017.'
Looking forward, chief executive Jakob Sigurdsson said: 'If the strength in our industrial business continues to offset weakness in medical, it could offer a limited degree of upside potential to expectations, although it remains very early in the year and our underlying momentum is broadly unchanged from the second half of 2017.'
"Our priorities for 2018 are to remain focused on driving growth, on cost efficiency and to show further progress in our polymer & parts strategy.'
Story provided by StockMarketWire.com
StockMarketWire.com
Plastics provider Victrex said revenue in the first quarter was up 41% on-year, as a strong performance in its industrial business offset a slightly weaker performance in its medical business.
Revenue grew to £78.7m, compared to a weaker comparative quarter the year before. Sales volumes of 1,051 tonnes were 30% ahead of the prior year.
Revenue growth also reflected currency hedging, sales from the acquisition of Zyex and a large volume of consumer electronics orders, Victrex said.
'Excluding these items, our underlying momentum is broadly unchanged from the positive performance we saw in the second half of 2017.'
Looking forward, chief executive Jakob Sigurdsson said: 'If the strength in our industrial business continues to offset weakness in medical, it could offer a limited degree of upside potential to expectations, although it remains very early in the year and our underlying momentum is broadly unchanged from the second half of 2017.'
"Our priorities for 2018 are to remain focused on driving growth, on cost efficiency and to show further progress in our polymer & parts strategy.'
Story provided by StockMarketWire.com
dreamcatcher
- 28 Mar 2018 16:13
- 75 of 86
14:40 28/03/2018
Broker Forecast - Credit Suisse issues a broker note on Victrex PLC
Credit Suisse today reaffirms its outperform investment rating on Victrex PLC (LON:VCT) and raised its price target to 2800p (from 2650p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
Broker Forecast - Credit Suisse issues a broker note on Victrex PLC
Credit Suisse today reaffirms its outperform investment rating on Victrex PLC (LON:VCT) and raised its price target to 2800p (from 2650p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
dreamcatcher
- 08 May 2018 17:49
- 76 of 86
11:30 08/05/2018
Broker Forecast - Peel Hunt issues a broker note on Victrex PLC
Peel Hunt today reaffirms its hold investment rating on Victrex PLC (LON:VCT) and set its price target at 2400p. Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
Broker Forecast - Peel Hunt issues a broker note on Victrex PLC
Peel Hunt today reaffirms its hold investment rating on Victrex PLC (LON:VCT) and set its price target at 2400p. Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
dreamcatcher
- 14 May 2018 20:08
- 77 of 86
Half year report
Highlights:
• Continued broad based growth
- Group sales volumes up 21% driven by core growth & new applications
- Core volumes* (ex-Consumer Electronics) up 13%
- Group revenue up 27%, constant currency revenue* up 15%
- Strong performances in Automotive & Electronics, offset by Medical (in constant currency)
- Profit before tax (PBT) up 26%, supported by H1 currency weighting
• Further milestones in new product pipeline
- Dental supply agreement to enhance market access
- First parts supplied for PEEK Gears mega-programme & further opportunities
- Magma on track for full year growth & new Brazil deep-water opportunity
- Commissioning of TxV Aero Composites facility in H2 2018
• Strong cash generation supports investment & shareholder return
- Cash (available*) up 7% to £91.8m and operating cash conversion* of 106%
- Interim dividend up 10% to 13.42p/share
Highlights:
• Continued broad based growth
- Group sales volumes up 21% driven by core growth & new applications
- Core volumes* (ex-Consumer Electronics) up 13%
- Group revenue up 27%, constant currency revenue* up 15%
- Strong performances in Automotive & Electronics, offset by Medical (in constant currency)
- Profit before tax (PBT) up 26%, supported by H1 currency weighting
• Further milestones in new product pipeline
- Dental supply agreement to enhance market access
- First parts supplied for PEEK Gears mega-programme & further opportunities
- Magma on track for full year growth & new Brazil deep-water opportunity
- Commissioning of TxV Aero Composites facility in H2 2018
• Strong cash generation supports investment & shareholder return
- Cash (available*) up 7% to £91.8m and operating cash conversion* of 106%
- Interim dividend up 10% to 13.42p/share
dreamcatcher
- 17 May 2018 16:36
- 78 of 86
12:00 17/05/2018
Broker Forecast - Peel Hunt issues a broker note on Victrex PLC
Peel Hunt today upgrades its investment rating on Victrex PLC (LON:VCT) to add (from hold) and raised its price target to 2850p (from 2400p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
Broker Forecast - Peel Hunt issues a broker note on Victrex PLC
Peel Hunt today upgrades its investment rating on Victrex PLC (LON:VCT) to add (from hold) and raised its price target to 2850p (from 2400p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
dreamcatcher
- 23 May 2018 19:30
- 79 of 86
11:00 23/05/2018
Broker Forecast - HSBC issues a broker note on Victrex PLC
HSBC today initiates coverage of Victrex PLC (LON:VCT) with a hold investment rating and price target of 2650p. Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
Broker Forecast - HSBC issues a broker note on Victrex PLC
HSBC today initiates coverage of Victrex PLC (LON:VCT) with a hold investment rating and price target of 2650p. Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
dreamcatcher
- 08 Jun 2018 16:11
- 80 of 86
New highs.
dreamcatcher
- 16 Jul 2018 16:27
- 81 of 86
11:30 16/07/2018
Broker Forecast - Morgan Stanley issues a broker note on Victrex PLC
Morgan Stanley today reaffirms its equal weight investment rating on Victrex PLC (LON:VCT) and raised its price target to 2980p (from 1600p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
Broker Forecast - Morgan Stanley issues a broker note on Victrex PLC
Morgan Stanley today reaffirms its equal weight investment rating on Victrex PLC (LON:VCT) and raised its price target to 2980p (from 1600p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
dreamcatcher
- 25 Jul 2018 07:02
- 82 of 86
Interim Management Statement
RNS
RNS Number : 6360V
Victrex PLC
25 July 2018
25 July 2018
Victrex plc: Interim Management Statement
'On track for a strong FY18'
Victrex plc, an innovative world leader in high performance polymer solutions, today releases its Interim Management Statement for the third quarter (Q3) covering the period 1 April to 30 June 2018.
Victrex has performed well since the end of the first half and cash generation has remained strong. Core business momentum has continued, with the majority of our markets in growth. Q3 saw a slightly lower contribution from the large Consumer Electronics order and with no volumes expected from this order in the fourth quarter, we will see a tougher Q4 comparative versus last year.
Medical revenue was in line with the prior year. Despite the challenging US Spine market, we still anticipate delivering meaningful revenue this year for our differentiated and innovative PEEK-OPTIMATM HA Enhanced product.
Overall, Q3 Group sales volume was up 14% to 1,161 tonnes (Q3 2017: 1,022 tonnes), with Group revenue up 10% to £84.0m (Q3 2017: £76.3m). Year to date Group sales volume of 3,417 tonnes is 19% up on the prior year (2017 YTD: 2,881 tonnes), with year to date Group revenue of £250.6m up 21% (2017 YTD: £207.3m).
Mega-programme progress
Victrex continues to focus on delivering further milestones in its growth pipeline and mega-programmes.
Following a commitment to deploy Magma's flexible oil & gas composite pipe by Tullow in West Africa, additional opportunities are under discussion, both with Tullow and other operators, in FY19. In Aerospace, construction of our US manufacturing facility, to support our TxV Aero Composites joint venture, is nearing completion, with prototype orders already in place. In Medical, following the agreement with Straumann Dental to enhance market access for our Juvora Dental product, we are in discussions for further customer agreements.
Currency
Currency remains in line with guidance for FY18, with approximately 90% of the FY18 currency benefit already seen in the first half, and a much lower benefit in the second half year. Looking ahead to 2019, over 50% of our currency hedges are in place. Although Sterling has slightly weakened since the end of our first half year, our guidance for FY19 remains similar, with an approximately £8m - £10m headwind to profits based on current rates and hedging in place, and reflecting some emerging raw material inflation.
Outlook
With continued momentum in our core business and milestones in our mega-programmes, we remain well positioned to continue driving growth as part of our Polymer & Parts strategy.
Although growth comparatives will be tougher in Q4, and we will see currency becoming a headwind, Victrex remains comfortable with full year expectations. Overall, we are on track to deliver a strong performance for FY18 as a whole.
RNS
RNS Number : 6360V
Victrex PLC
25 July 2018
25 July 2018
Victrex plc: Interim Management Statement
'On track for a strong FY18'
Victrex plc, an innovative world leader in high performance polymer solutions, today releases its Interim Management Statement for the third quarter (Q3) covering the period 1 April to 30 June 2018.
Victrex has performed well since the end of the first half and cash generation has remained strong. Core business momentum has continued, with the majority of our markets in growth. Q3 saw a slightly lower contribution from the large Consumer Electronics order and with no volumes expected from this order in the fourth quarter, we will see a tougher Q4 comparative versus last year.
Medical revenue was in line with the prior year. Despite the challenging US Spine market, we still anticipate delivering meaningful revenue this year for our differentiated and innovative PEEK-OPTIMATM HA Enhanced product.
Overall, Q3 Group sales volume was up 14% to 1,161 tonnes (Q3 2017: 1,022 tonnes), with Group revenue up 10% to £84.0m (Q3 2017: £76.3m). Year to date Group sales volume of 3,417 tonnes is 19% up on the prior year (2017 YTD: 2,881 tonnes), with year to date Group revenue of £250.6m up 21% (2017 YTD: £207.3m).
Mega-programme progress
Victrex continues to focus on delivering further milestones in its growth pipeline and mega-programmes.
Following a commitment to deploy Magma's flexible oil & gas composite pipe by Tullow in West Africa, additional opportunities are under discussion, both with Tullow and other operators, in FY19. In Aerospace, construction of our US manufacturing facility, to support our TxV Aero Composites joint venture, is nearing completion, with prototype orders already in place. In Medical, following the agreement with Straumann Dental to enhance market access for our Juvora Dental product, we are in discussions for further customer agreements.
Currency
Currency remains in line with guidance for FY18, with approximately 90% of the FY18 currency benefit already seen in the first half, and a much lower benefit in the second half year. Looking ahead to 2019, over 50% of our currency hedges are in place. Although Sterling has slightly weakened since the end of our first half year, our guidance for FY19 remains similar, with an approximately £8m - £10m headwind to profits based on current rates and hedging in place, and reflecting some emerging raw material inflation.
Outlook
With continued momentum in our core business and milestones in our mega-programmes, we remain well positioned to continue driving growth as part of our Polymer & Parts strategy.
Although growth comparatives will be tougher in Q4, and we will see currency becoming a headwind, Victrex remains comfortable with full year expectations. Overall, we are on track to deliver a strong performance for FY18 as a whole.
dreamcatcher
- 04 Oct 2018 17:15
- 83 of 86
10:10 04/10/2018
Broker Forecast - UBS issues a broker note on Victrex PLC
UBS today reaffirms its buy investment rating on Victrex PLC (LON:VCT) and raised its price target to 3600p (from 3300p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
Broker Forecast - UBS issues a broker note on Victrex PLC
UBS today reaffirms its buy investment rating on Victrex PLC (LON:VCT) and raised its price target to 3600p (from 3300p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
dreamcatcher
- 12 Oct 2018 19:42
- 84 of 86
08:10 12/10/2018
Broker Forecast - Morgan Stanley issues a broker note on Victrex PLC
Morgan Stanley today downgrades its investment rating on Victrex PLC (LON:VCT) to underweight (from equal weight) and cut its price target to 2300p (from 2500p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
Broker Forecast - Morgan Stanley issues a broker note on Victrex PLC
Morgan Stanley today downgrades its investment rating on Victrex PLC (LON:VCT) to underweight (from equal weight) and cut its price target to 2300p (from 2500p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
dreamcatcher
- 04 Dec 2018 07:09
- 85 of 86
Preliminary results
Highlights:
• Strong core business* growth
- Group sales volumes up 10% driven by core growth & mega-programme progress
- Group revenue up 12%; constant currency revenue** up 7%
- Strong performances across Industrial markets; Medical revenue up 3%
- Profit before tax (PBT) up 15%, supported by currency
• Further progress in 'mega-programmes'
- Major Dental supply agreement with Straumann and new Trauma collaboration
- PEEK Gears now "on the road" & further larger opportunities
- Strong performance in Magma following planned deployments & further opportunities
- TxV Aero Composites facility in commissioning; new Aerospace alliances under discussion
- Clinical trial submitted for PEEK Knee programme
• Continued strong cash generation, supporting investment & shareholder return
- Operating cash conversion** of 107% giving cash available** up 20% to £144.4m
- Regular dividend up 11% to 59.56p/share and special dividend of 82.68p/share
- Dividend distribution policy retained, balancing investment flexibility & shareholder return
Highlights:
• Strong core business* growth
- Group sales volumes up 10% driven by core growth & mega-programme progress
- Group revenue up 12%; constant currency revenue** up 7%
- Strong performances across Industrial markets; Medical revenue up 3%
- Profit before tax (PBT) up 15%, supported by currency
• Further progress in 'mega-programmes'
- Major Dental supply agreement with Straumann and new Trauma collaboration
- PEEK Gears now "on the road" & further larger opportunities
- Strong performance in Magma following planned deployments & further opportunities
- TxV Aero Composites facility in commissioning; new Aerospace alliances under discussion
- Clinical trial submitted for PEEK Knee programme
• Continued strong cash generation, supporting investment & shareholder return
- Operating cash conversion** of 107% giving cash available** up 20% to £144.4m
- Regular dividend up 11% to 59.56p/share and special dividend of 82.68p/share
- Dividend distribution policy retained, balancing investment flexibility & shareholder return
dreamcatcher
- 04 Jan 2019 21:30
- 86 of 86
4 Jan
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