Victrex PLC (LSE:VCT) shares jumped almost 14% to 987p on Wednesday after the company raised its full-year profit guidance following stronger-than-expected fourth-quarter trading.
The high-performance polymers specialist now expects underlying profit before tax for the year ending 30 September 2026 to be between £45 million and £47 million, up from previous guidance of £42 million to £44 million.
Victrex's year-on-year growth had continued across its end markets since its July trading update, with particularly strong growth in Asia-Pacific.
The company also completed its previously announced 10% headcount reduction, with initial benefits already being seen during the fourth quarter.
Victrex expects its wider profit improvement programme to deliver at least £10 million of annualised savings during the 2027 financial year.
Chief executive Dr James Routh said: “We have maintained our strong momentum during Q4, with revenue growth driven by improved performance across key end markets and all regions. As a result, we now expect full-year underlying PBT for FY 2026 to be ahead of our prior guidance.”
Separately, Victrex completed the sale of its US-based Kleiss Gears business to The Heico Companies’ Industrial Technologies Group in August, with an exceptional disposal loss of around £3 million expected to be recorded in the 2026 results.
Chris Gilbert also joined Victrex as interim chief financial officer on 1 September, bringing previous experience at Elementis plc (LSE:ELM) and Deloitte LLP.
Victrex is due to provide further details on its growth strategy at a capital markets event later this month.
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