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

9 Jan Deutsche Bank 2,350.00 Buy

Victrex: Citi raises target price from 2100p to 2200p, while downgrading to 'neutral'.

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%.

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.
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EX dividend 5 Feb Victrex (special) 50p payable 20 Feb

Victrex 33.76p payable 20 Feb

Trading statement 4 Feb 15


3 Feb Berenberg 2,380.00 Buy

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.

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4 Feb JP Morgan... 1,800.00 Neutral
4 Feb Numis 2,106.00 Hold
4 Feb N+1 Singer 2,300.00 Buy

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.

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”.

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."

20 Apr Exane BNP... 2,500.00 Outperform
20 Apr Barclays... 2,300.00 Overweight

13 May Credit Suisse 2,400.00 Outperform

Half yearly report

19 May Credit Suisse 2,400.00 Outperform

Ex dividend 11 Jun 2015 Victrex PLC (11.7 P)

upgrade - 7 Jul Numis 2,233.00 Add

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.

1 Oct Barclays... 2,300.00 Overweight

5 Oct Berenberg 2,230.00 Buy

Trading statement

Half year report