Victrex raised its profit guidance after strong fourth-quarter trading, as the high-performance polymer maker saw growth across its markets and benefited from cost cuts.
It was a short announcement from Victrex on Wednesday, but one that packed a punch.
The company said it now expects underlying pre-tax profit of £45m to £47m for the year to 30 September, up from previous guidance of £42m to £44m.
Momentum had continued into the final quarter, it said, with growth led by aerospace, electronics and its value-added resellers, and particularly strong demand in Asia Pacific. A 10% reduction in headcount is complete and is expected to deliver at least £10m of annualised savings from next year.
Separately, Victrex confirmed it sold its US-based Kleiss Gears business to The Heico Companies in August, a move it said reflected a sharper focus on core operations, and it will book an exceptional loss of around £3m on the disposal.
Dr James Routh, Chief Executive Officer of Victrex, said: “We have maintained our strong momentum during Q4, with revenue growth driven by improved performance across key end markets and all regions. As a result, we now expect full year underlying PBT for FY 2026 to be ahead of our prior guidance.”
“We look forward to providing further detail on our compelling growth strategy and clear and differentiated value proposition during our Capital Markets Event later this month.”