Victrex PLC (LSE:VCT) has stuck to guidance for growth this year despite flagging subdued trading within its medical division.
Guidance remained “for at least mid-single digit volume growth,” the FTSE 250-listed polymer supplier reported Friday, and underlying pre-tax profit growth ahead of that.
Revenue had grown by 9% to £66.6 million in its first quarter to December, as volumes ticked up 20% to 898 tonnes.
Improvement was seen across aerospace, electronics, energy & industrial and value-added resellers, it said, as automotive sales declined.
“Mixed” conditions also reflected destocking amongst medical device customers as a “correction” across the industry continued, the company warned.
Shares slipped 0.4% to 985p.