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Victrex PLC on Friday maintained annual guidance despite ‘subdued performance’ by certain markets in the first quarter. The Lancashire, England-based polymer producer reported revenue of £62.4 million for the three months ended in December, down roughly 6% from £66.6 million a year ago. The firm said sales volume fell 4% to 858 tonnes from 898 tonnes. In the year-to-date, as of January 31, volumes were broadly unchanged from a year ago, as some shortfall recovered over the course of January from a slow December. Still, Victrex noted YTD revenue as ‘slightly lower’ on-year, ‘primarily reflecting sales mix’, and flagged overall performance in the first half as weaker on-year. The company sees full-year performance weighted to the second half. The company’s Sustainable Solutions unit ‘continues to perform well’, thanks to stable trading in Energy & Industrial end-markets, Victrex said. Value Added Retailers had a weaker first quarter, recovering somewhat in January to nudge YTD volumes slightly higher on-year. Medical sales remain lower on an annual basis. Victrex ended December with £21.1 million in net debt, narrowed from £24.8 million at September 30, and a £28 million cash balance, up from £24.2 million on-quarter. Both figures were before Victrex paid its 2025 final dividend of 46.14 pence per share, which brought the year’s total dividend to 59.65p. The company said its ‘profit improvement plan’ continues, as it aims to save at least £10 million on an annual basis by financial 2027, ‘with some initial benefits during the latter part of H2 2026.’ According to Chief Executive James Routh, the plan will create ‘a more agile and customer-focused organisation.’ Routh added: ‘The start of FY 2026 reflected usual Q1 seasonality, alongside a subdued performance across some end-markets. On a year to date basis, our second quarter started solidly, with YTD volumes now in line with the prior year. Whilst we continue to be mindful of wider macroeconomic conditions, our full year guidance remains unchanged.’ Victrex shares were down 3.9% to 669.00 pence on Friday morning in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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