Victrex climbs on sharp Q3 recovery across key markets

(Sharecast News) - Polymer specialist Victrex traded higher early on Tuesday, helped by a strong third‑quarter update showing a sharp rebound in volumes and revenue across key end markets. Victrex said group revenues for the three months ended 30 June had risen 18% year‑on‑year to £84.5m, with volumes up 17% to 1,238 tonnes, reflecting continued momentum from the second quarter. Aerospace and electronics led growth within its sustainable solutions unit, with aerospace benefiting from a much weaker comparator after supply‑chain backlogs hit the sector in 2025. Average selling prices were unchanged at £68/kg.

Year‑to‑date revenues increased 7% to £231.6m, while volumes were up 10% to 3,375 tonnes, supported by stabilisation in the medical segment and ongoing strength across industrial end markets.

The FTSE 250-listed group also said it had made good progress on its profit improvement plan, including a roughly 10% reduction in headcount that will begin to deliver benefits in the final quarter. Annualised cost savings of at least £10m remain on track for FY27, with around £10m of cash exceptional items expected this year.

Victrex added that net debt stood at £43m as of 30 June, with cash of £27.5m, after payment of its interim dividend.

Chief executive James Routh said: "Q3 maintained the positive momentum we saw through our second quarter. Compared to the prior year, revenue growth was driven by improvement across several end markets, particularly aerospace and electronics, with some stabilisation in medical.

"In our final quarter, whilst we will start to see initial cost savings as part of our profit improvement plan, we remain mindful of normal seasonality and wider macroeconomic conditions including the potential implications for global demand and energy costs. Our full year guidance is therefore unchanged."

As of 1000 BST, Victrex shares had shot up 15.46% to 671.98p.





Reporting by Iain Gilbert at Sharecast.com

See latest RNS on Investegate