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

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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

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

4 Jan
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