Victrex positive about full year performance

LANCASHIRE chemicals firm Victrex has said that that monthly sales volumes have increased in the second half of the year, but added that it was too early to judge the extent of the recovery into 2010.

The group, which makes high performance plastics, said in a trading statement that full year profits will be in line with expectations and added that its polymer business was seeing a continued positive sales trend.

But it warned that it was still too early to judge the extent of the recovery in its Victrex Polymer Solutions business due to restocking or a higher level of sustainable demand, adding that 2010 sales volume will be highly dependent on the extent to which this recovery is sustained.

Invibio, its biomaterials division which makes medical products, saw full-year revenue rise 37% to £34.1m (2008: £24.9m).

Victrex recently invested £200,000 in a new lamination press and laboratory at its manufacturing facility at Thornton Cleveleys to develop new composite materials.

The company will announce its full year results to the end of September on December 8.