Victrex on track but sees tougher comparatives ahead
Volumes rose 14% in the three months to June, while revenues increased by 10% to £84mln
Company
LON:VCT
Victrex PLC is the leading global manufacturer of polyaryletherketones. These are high-end polymers that are sold under the brand names VICTREX PEEK polymer, APTIV and VICOTE.
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Volumes rose 14% in the three months to June, while revenues increased by 10% to £84mln
Victrex said the foreign exchange rate in the second half will be “much less of a tailwind compared to the first half and we are also mindful of the currency headwind for 2019”
FTSE 250 fared better though closing ahead by around 15 points at 20,800.
Results were boosted by favourable foreign exchange rates, sales from its acquisition of Zyex and volumes for a large consumer electronics order
The US rally fizzled out prompting a late sell-off in an already below-water London
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The day ahead includes trading updates from Victrex and S & U along with UK economic data on manufacturing production and trade
The FTSE 250 listed provider of specialist polymer products reported an 11% rise in pre-tax profit to £111.0mln for the 12 months to September 30, as group revenue rose by 15% to £290.2mln
Investments and investor services
FTSE 100 closed around 11 points down, while the FTSE 250 dropped almost 65 points
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Day ahead includes updates from renamed blue chip plumbing supplies firm Ferguson PLC and from mid cap spread betting firm and broker IG Group PLC
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The Week Ahead diary includes the December US jobs data, plus corporate updates from Stagecoach PLC, Ferguson PLC, IG Group PLC, and Berkeley Group PLC
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The agenda for Tuesday is distinctly summery, albeit PZ Cussons is among a few features in the books.
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He's already told us he's not Santa, but can Mike Ashley deliver a Christmas present for Sports Direct investors?
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Is it really that simple that a falling pound means UK-based chemical companies make shed loads more money?
Investments and investor services
The price of a barrel of Brent crude fell 0.449% to US$44.52
Investments and investor services
Standard Chartered, Petrofac, Victrex and Trinity Mirror are in the broker spotlight on Thursday.
The February trading update sent analysts scurrying to their calculators to upgrade their forecasts
Investments and investor services
IAG, Dunelm, QinetiQ, ARM Holdings, Smith & Nephew, Victrex and Oxford Instruments are all in Thursday’s broker spotlight.
With crude oil prices at around seven year lows it is going to take something spectacularly reassuring to excite EnQuest investors tomorrow morning
Aside from a closely watched interest rate decision from the BoE, corporate announcements on Thursday include trading updates from construction and support services firm Carillion and sugar giant Tate & Lyle.
Tesco and Vedanta catch the eye next week which kicks off with the Conservative party conference.