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

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.

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).

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
 

4 Sep
Liberum Capital
2,440.00
Buy

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

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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

28 Sep
Deutsche Bank
2,200.00
Hold
27 Sep
JP Morgan...
2,150.00
Neutral

Tuesday 5 Dec trading statement

Final results

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.

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

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

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

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

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

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

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

New highs.

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