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

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

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.

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%.

Victrex: Citi increases target price from 1550p to 2100p upgrading to buy.

1 Apr Deutsche Bank 2,050.00 Buy

Shares - Investors may expect Victrex to reveal another quarter of strong sales growth at Tues 8 Apr first -half update.

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.

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

20 May N+1 Singer 1,910.00 Hold

22 May Numis 1,987.00 Add

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.

30 Jul N+1 Singer 1,640.00 Hold
30 Jul Deutsche Bank 2,050.00 Buy

7 Aug Berenberg 1,950.00 Buy

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.

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.

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.

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

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.
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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

Victrex: N+1 Singer raises target price from 1860p to 2100p and reiterates a 'buy' recommendation.

9 Jan Deutsche Bank 2,350.00 Buy