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Prices & Quotes - UK Markets - Victrex plc (VCT)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 2,064.00p
Change Today:
20.00p
Market Cap:
1,788.21m
Sector:
Chemicals

Victrex sees sales slightly ahead of expectations, dividend to be reinstated

By Alexander Bueso

Date: Tuesday 06 Oct 2020

LONDON (ShareCast) - (Sharecast News) - Victrex guided towards slightly better-than-expected sales for the financial year ending on 30 September and told shareholders to expect its dividend to be reinstated.
Nevertheless, according to the high-performance polymer manufacturer's management, at the financial year close trading remained "subdued".

In its fourth quarter ending on 30 September, group sales volumes dropped 26% to 695 tonnes, while revenues were off by 27% to 55.7m "in line with expectations".

For the year meanwhile, volumes and revenues were 7% and 10% lower, respectively.

Volumes in Aerospace and Energy remained in-line with the lows seen during the third quarter, but monthly run rates in Automotive and Medical had seen some "limited incremental improvement".

A cost savings plan put in place was expected to mitigate the hit to margins from lower output volumes, but the drag was expected to be sustained over the course of the next financial year.

Victrex also expected that it would take time to "gradually" unwind inventories after Brexit and due to its debottlenecking programme, as a result of which it would be forced to take some of its capacity offline.

Net cash at period end stood at 67.4m, excluding the 5.6m ring-fenced for its China manufacturing subsidiary, and the 20m revolving credit facility remained undrawn.

The company also had a 20m accordion facility in place.

As of 0906 BST, shares of Victrex were trading lower by 2.97% to 1,865.0p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Victrex plc Market Data

Currency UK Pounds
Price 2,064.00p
Change Today 20.00p
52 Week High 2,540.00p
52 Week Low 1,786.00p
Volume 56,414
Shares Issued 86.64m
Market Cap 1,788.21m

Performance Indicators

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What The Brokers Say

Strong Buy 3
Buy 0
Neutral 9
Sell 0
Strong Sell 6
Total 18
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Victrex plc Dividends

  Latest Previous
  Final Interim
Ex-Div 30-Jan-20 06-Jun-19
Paid 21-Feb-20 28-Jun-19
Amount 46.14p 13.42p

Trades for 02-Dec-2020

Time Volume / Share Price
16:26 8 @ 2,064.00p
16:25 33 @ 2,062.00p
16:25 66 @ 2,062.00p
16:25 47 @ 2,064.00p
16:25 100 @ 2,064.00p

Victrex plc Key Personnel

Chair Lawrence C Pentz
CEO Jakob Sigurdsson