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Victrex Q1 Revenue, Volume Up; Says Expectations Unchanged - Quick Facts

Victrex Plc. (VCT.L), a supplier of high performance polymer solutions, reported Thursday that its first-quarter revenue was 67.7 million pounds, up 6 percent from last year's 64.1 million pounds.

Group sales volume was 877 tonnes, a growth of 7 percent from prior year's 822 tonnes.

In its trading update, the company said it remains ahead of last year on a year to date basis, with performance in January being broadly in line with the strong January of the prior year.

Against much weaker comparatives, the company's automotive delivered good year on year and sequential growth, partly reflecting phasing. Electronics and Value Added Resellers continued to see some signs of stability. Meanwhile, performance in Energy is weaker, in line with recent industry commentary.

Looking ahead, Chief Executive Jakob Sigurdsson said, "This is a solid start to FY 2020, although it is against weaker comparatives in the prior year... Overall, our expectations are unchanged and at this early stage, we continue to be focused on making year-on-year progress. For the medium to long-term, our Polymer & Parts strategy keeps us well placed to deliver our growth opportunities."

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