Profits up at Victrex as Frew retires

LONG-SERVING Victrex chairman Anita Frew is to bow out, announcing her retirement as the company posted a 7% increase in half-year pre-tax profits.

Frew has been chairman at the Thornton Cleveleys plastics manufacturer for six years and has been on the board for 14.

She will be replaced by Larry Pentz, currently a non-executive, at the end of September.

The business has two divisions: Victrex Polymer Solutions, which focuses on transport, industrial and the electronics market; and Invibio Biomaterials which supplies medical device manufacturers.

In the six months to the end of March Victrex saw revenues rise by 13% to £120m. Pre-tax profits were up by 7% to £48.9m. Sales volumes increased by 14% to 1,584 tonnes.

Anita Frew said: “It has been an honour to chair Victrex, one of Britain’s great industrial manufacturing companies and a true export champion. I feel privileged to have been able to build and lead an outstanding board and executive team. Victrex has a clear strategy, a culture of innovation, technical leadership, a strong financial position and our timely investment in new capacity will support our continuing commercial success and growth.”