Victrex Q3 Revenue Up 10%; Says On Track To Deliver Strong Performance For FY18

Victrex Plc. (VCT.L), in its interim Management Statement for the third quarter covering the period 1 April to 30 June 2018, reported that its quarterly Group sales volume was up 14% to 1,161 tonnes from last year, with Group revenue up 10% to 84.0 million pounds from the prior year.

Currency remains in line with guidance for fiscal year 2018, with approximately 90% of the fiscal year 2018 currency benefit already seen in the first half, and a much lower benefit in the second half year.

Looking ahead to 2019, over 50% of our currency hedges are in place. Although Sterling has slightly weakened since the end of first half year, guidance for fiscal year 2019 remains similar, with an approximately 8 million pounds - 10 million pounds headwind to profits based on current rates and hedging in place, and reflecting some emerging raw material inflation.

Victrex said it remains comfortable with full year expectations. Overall, it is on track to deliver a strong performance for fiscal year 2018 as a whole.

The company noted that it remains well positioned to continue driving growth as part of our Polymer & Parts strategy.

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