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Interim Results

Victrex says H1 pretax profit up 5%

15 May 2017 07:33

Victrex said its H1 pretax profit was up 5% to £50.1m, from £47.5m, with its overall expectations for the FY unchanged.

The specialist in high-performance polymer solutions said it sold 1859 tonnes in the half, from 1770 tonnes previously.

Group revenue was £130.9m, from £117.0m.

Interim dividend was 12.2p a share, up from 11.73p.

"Whilst we delivered a strong first half performance and the Group continues to be highly cash generative, we note that there is potential for variability in the scale of Consumer Electronics volumes during the second half, with visibility remaining low,"said CEO David Hummel.

"Consequently, although our positive growth momentum has continued into the second half and helps to underpin 2017, our overall expectations are unchanged.

"We are focused on driving growth, on cost efficiency and making progress in delivering our Polymer & Parts strategy."

Story provided by StockMarketWire.com

Related Company: VCT

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