Proactiveinvestors United Kingdom Victrex https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Victrex RSS feed en Sun, 26 May 2019 16:24:31 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190520100954_14080069/ Mon, 20 May 2019 10:09:54 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190520100954_14080069/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190517105046_14078434/ Fri, 17 May 2019 10:50:46 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190517105046_14078434/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190515084928_14074697/ Wed, 15 May 2019 08:49:28 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190515084928_14074697/ <![CDATA[News - Victrex once again dampens down expectations ]]> https://www.proactiveinvestors.co.uk/companies/news/220120/victrex-once-again-dampens-down-expectations-220120.html Shares in Victrex PLC (LON:VCT) fell back after the polymers specialist issued another profit warning.

The shares dropped 3.6% to 2,140p after the company released results covering the six months to the end of March.

The market was not expecting much from these results, as the company had alerted the market in February to a much weaker first-half performance after sales slumped in the first quarter.

READ Victrex warns of “much weaker” first half as it gets off to a slow start

Half-year revenue tumbled to £145.7mln from £166.6mln the year before while profit before tax slipped to £50.2mln from £63.3mln.

The interim dividend was held at 13.42p.

Turning to current trading, the company, which makes everything from plastic pipes to spinal implants, said it will now be challenging to achieve year-on-year growth in the second half, compared to the prior year period.

Plastics and the technologies surrounding them have come a long way since their first discovery and subsequent development. Innovation never stops – here is reasons why: https://t.co/uZmJloAMtD #40yearsofPEEK #Victrex #Innovation #polymer #technology #blog #pioneering pic.twitter.com/3luObMbgMC

— Victrex (@Victrexplc) May 13, 2019

“We remain well placed for the medium to long term, with strong structural growth opportunities, a healthy new product pipeline and a highly cash generative business model," said Jakob Sigurdsson, the chief executive officer of Victrex.

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Mon, 13 May 2019 09:13:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220120/victrex-once-again-dampens-down-expectations-220120.html
<![CDATA[RNS press release - Half-year Report ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190513070007_14070673/ Mon, 13 May 2019 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190513070007_14070673/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190430100004_14057055/ Tue, 30 Apr 2019 10:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190430100004_14057055/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190417120303_14044894/ Wed, 17 Apr 2019 12:03:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190417120303_14044894/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190329120740_14021631/ Fri, 29 Mar 2019 12:07:40 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190329120740_14021631/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190319105529_14007553/ Tue, 19 Mar 2019 10:55:29 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190319105529_14007553/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190228093338_13985125/ Thu, 28 Feb 2019 09:33:38 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190228093338_13985125/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190219104222_13974215/ Tue, 19 Feb 2019 10:42:22 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190219104222_13974215/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190218162350_13973259/ Mon, 18 Feb 2019 16:23:50 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190218162350_13973259/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190211163419_13965437/ Mon, 11 Feb 2019 16:34:19 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190211163419_13965437/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190208094401_13963183/ Fri, 08 Feb 2019 09:44:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190208094401_13963183/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190206142820_13960693/ Wed, 06 Feb 2019 14:28:20 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190206142820_13960693/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190206135504_13960664/ Wed, 06 Feb 2019 13:55:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190206135504_13960664/ <![CDATA[News - Victrex warns of “much weaker” first half as it gets off to a slow start ]]> https://www.proactiveinvestors.co.uk/companies/news/214069/victrex-warns-of-much-weaker-first-half-as-it-gets-off-to-a-slow-start-214069.html UK engineering group Victrex PLC (LON:VCT) expects a “much weaker” first-half performance this year after sales slumped in its opening quarter.

The FTSE 250 company, which makes everything from polymer pipes to spinal implants, saw revenue plunge 18% to £64.1mln (Q1 17: £78.7mln) in the three months ended 31 December.

READ: Victrex to rewards shareholders with £105mln special divi

A large contract in its consumer electronics business, which had a “sizeable” impact on last year’s first-quarter numbers, delivered nothing this time around, while the ongoing slowdown in its automotive division also dented the top line.

“Although Q1 is always the seasonally weakest quarter for Victrex, this quarter has been slightly weaker than anticipated, driven principally by the slowdown in Automotive, the associated impact on Value Added Resellers, and some de-stocking,” said chief executive Jakob Sigurdsson.

“Q1 also saw expected headwinds in Consumer Electronics, together with strong comparatives and adverse currency.”

He added: “Pleasingly, January and February saw some initial improvement, although, given our Q1 performance, the first half is expected to be much weaker overall, compared to the prior year.

“Our expectations for the second half are unchanged, with new projects and reduced headwinds supporting our assumptions.”

As analysts had feared

“Victrex 1Q sales today were pretty much in line with what we feared,” said analysts at City broker Liberum.

“We expect 2019 EBIT consensus to head back from ~£125mln to our bottom of range £121.5mln and now suspect 1H EBIT will be down more than 10%, having expected 8% previously.

“Readers will know we are fans of Victrex cashflow power, like its structural growth, but fear it has an above average cyclicality. It’s one to own for the medium term but for those fearful of a global hard landing there may be better opportunities to come.”

Liberum still has the stock as a ‘buy’ with a 2,700p price, comfortably ahead of the current share price, which is down 2.8% today to 2,280p.

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Wed, 06 Feb 2019 09:00:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/214069/victrex-warns-of-much-weaker-first-half-as-it-gets-off-to-a-slow-start-214069.html
<![CDATA[RNS press release - AGM and Q1 Interim Management Statement ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190206070002_13959508/ Wed, 06 Feb 2019 07:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190206070002_13959508/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190204121836_13957292/ Mon, 04 Feb 2019 12:18:36 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190204121836_13957292/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190131092955_13953391/ Thu, 31 Jan 2019 09:29:55 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190131092955_13953391/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190128162823_13949254/ Mon, 28 Jan 2019 16:28:23 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190128162823_13949254/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190117112128_13938340/ Thu, 17 Jan 2019 11:21:28 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190117112128_13938340/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190111154446_13932454/ Fri, 11 Jan 2019 15:44:46 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190111154446_13932454/ <![CDATA[RNS press release - Annual Financial Report ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190103130024_13923082/ Thu, 03 Jan 2019 13:00:24 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20190103130024_13923082/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181231090001_13919050/ Mon, 31 Dec 2018 09:00:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181231090001_13919050/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181218151951_13908370/ Tue, 18 Dec 2018 15:19:51 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181218151951_13908370/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181218103032_13907771/ Tue, 18 Dec 2018 10:30:32 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181218103032_13907771/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181217114033_13906245/ Mon, 17 Dec 2018 11:40:33 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181217114033_13906245/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181211095023_13899135/ Tue, 11 Dec 2018 09:50:23 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181211095023_13899135/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181211094853_13899132/ Tue, 11 Dec 2018 09:48:53 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181211094853_13899132/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181205134759_13892770/ Wed, 05 Dec 2018 13:47:59 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181205134759_13892770/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181205123519_13892701/ Wed, 05 Dec 2018 12:35:19 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181205123519_13892701/ <![CDATA[News - Victrex to reward shareholders with £105mln special dividend ]]> https://www.proactiveinvestors.co.uk/companies/news/210463/victrex-to-reward-shareholders-with-105mln-special-dividend-210463.html Polymer pipes and components maker Victrex PLC (LON:VCT) it to reward investors with more than £105mln in dividends after reporting a double-digit surge in annual revenue and profits.

The FTSE 250 group saw revenue rise 12% to £326.0mln (2017: £290.2mln) in the 12 months ended September 30, while pre-tax profits jumped 15% to £127.5mln (2017: £111.0mln).

That was on a 10% rise in polymer sales, with the firm selling 4,407 tonnes over the period (2017: 3,992 tonnes).

READ: Victrex sees tougher comparatives ahead

As a result of the strong performance and improved cash conversion, Victrex bosses announced a special dividend of 82.68p per share, alongside a regular dividend of 59.56p.

In total, the pay-outs will see the company return £105.6mln to shareholders.

“This has been a strong year for Victrex, with broad-based growth in our core polymer business and further good progress in our new product pipeline,” said chief executive Jakob Sigurdsson.

“We delivered a range of notable milestones across each of our mega-programmes and we are currently closing in on larger opportunities in Gears, as well as being in advanced discussions for new strategic Aerospace alliances.”

2019 unlikely to be as good

He did warn that the growth seen this year is unlikely to be repeated in 2019, though.

“We expect to make good progress on a constant currency basis, however, adverse currency, no expected volumes in Consumer Electronics and recent market softness in Automotive may hold back our ability to substantially improve on our overall 2018 performance, with these headwinds falling mainly in the first half.”

Shares climbed 1.3% to 2,546p in early trading on Tuesday.

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Tue, 04 Dec 2018 08:43:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210463/victrex-to-reward-shareholders-with-105mln-special-dividend-210463.html
<![CDATA[RNS press release - Preliminary Results 2018 ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181204070012_13889908/ Tue, 04 Dec 2018 07:00:12 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181204070012_13889908/ <![CDATA[RNS press release - Block listing Interim Review ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181203092514_13888676/ Mon, 03 Dec 2018 09:25:14 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181203092514_13888676/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181130093953_13886855/ Fri, 30 Nov 2018 09:39:53 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181130093953_13886855/ <![CDATA[RNS press release - Director Declaration ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181128095936_13883465/ Wed, 28 Nov 2018 09:59:36 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181128095936_13883465/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181119121436_13872083/ Mon, 19 Nov 2018 12:14:36 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181119121436_13872083/ <![CDATA[RNS press release - Director Declaration ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181114100156_13866612/ Wed, 14 Nov 2018 10:01:56 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181114100156_13866612/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181031102912_13849365/ Wed, 31 Oct 2018 10:29:12 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181031102912_13849365/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181017112322_13832361/ Wed, 17 Oct 2018 11:23:22 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20181017112322_13832361/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20180928091749_13808664/ Fri, 28 Sep 2018 09:17:49 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20180928091749_13808664/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20180918120610_13795012/ Tue, 18 Sep 2018 12:06:10 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20180918120610_13795012/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20180831105231_13774728/ Fri, 31 Aug 2018 10:52:31 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20180831105231_13774728/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20180822124619_13764784/ Wed, 22 Aug 2018 12:46:19 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20180822124619_13764784/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20180817113119_13759740/ Fri, 17 Aug 2018 11:31:19 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20180817113119_13759740/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20180731105643_13737762/ Tue, 31 Jul 2018 10:56:43 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20180731105643_13737762/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20180727160154_13734838/ Fri, 27 Jul 2018 16:01:54 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20180727160154_13734838/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20180725111653_13730973/ Wed, 25 Jul 2018 11:16:53 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3212/LSE20180725111653_13730973/ <![CDATA[News - Victrex on track but sees tougher comparatives ahead ]]> https://www.proactiveinvestors.co.uk/companies/news/201538/victrex-on-track-but-sees-tougher-comparatives-ahead-201538.html Victrex PLC’s (LON:VCT) strong first half momentum has continued said the enhanced plastics group, but the fourth quarter comparative will be tougher.

Currencies are turning and a large consumer order won’t contribute this time.

Volumes rose 14% in the three months to June, while revenues increased by 10% to £84mln and for the year to date revenues are 21% higher at £250.6mln.

Meaningful revenue

Victrex added it expects ‘meaningful revenue’ for its HA cervical and lumbar fusion device over the full year, while other oil companies are now looking at the flexible oil and plastic pipe supplied to Tullow, which deployed it in West Africa.

Currencies will become more of an issue in 2019, with an approximate £8mln-£10mln adverse effect now expected. 

“Although comparatives will be tougher in Q4, and we will see currency becoming a headwind, Victrex remains comfortable with full-year expectations,” said the statement.

Shares rose 2% to 3,070p.

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Wed, 25 Jul 2018 09:56:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/201538/victrex-on-track-but-sees-tougher-comparatives-ahead-201538.html