Victrex sales and profits surge

NORTH West plastics maker Victrex reported record half year revenue and profits and said second half revenues would follow a similar path.

Underlying pre-tax profits at the rose to £31.8m in the six months compared with £21.1m last year. Underlying revenue was up 36% to £76.5m.

Victrex, a member of the FTSE 250, comprises two divisions: Victrex Polymer Solutions which focuses on transport, industrial and the electronics markets and Invibio Biomaterial Solutions, which supplies medical device manufacturers.

Chairman Anita Frew commented: “After last year’s challenging global economic conditions, there has been a strong rebound in sales volume in the Victrex Polymer Solutions business and continued growth in our Invibio Biomaterial Solutions business.”

“Group sales volume remains strong since the end of the first half,” she added.

Headquartered in Thornton Cleveleys, Lancashire, Victrex has manufacturing sites in Yorkshire, the North East and further afield in India, China and Japan.