Record second half sales boost Victrex
LANCASHIRE performance polymers specialist Victrex said in a trading update that its second half sales volumes had hit a record level, and that annual profits would meet City hopes.
The Thornton Cleveleys-based FTSE 250 company is made up of two divisions: Victrex Polymer Solutions focuses on transport, industrial and the electronics markets and Invibio Biomaterial Solutions which supplies medical device manufacturers
In an update ahead of its full year result announcement in December, Victrex said group sales volume amounted to approximately 2,535 tonnes, an increase of 64% over the previous year.
The second half of the year tpo the end of September was particularly strong with record sales of 1,364 tonnes. This positive trend has contined this month, the company added.
Full year revenue for Invibio, bthe iomaterial solutions business, was in line with expectations at £44.2m, up 29% on last year. Underlying Invibio revenues at constant exchange rates were 15% on last year.
“Overall, we expect group profits for 2010 to be in line with market expectations,” the group added.
