Victrex plc (VCT.L), a supplier of high performance polymers, Monday reported profit before tax of 3.3 million pounds for the first half, significantly lower than 39.1 million pounds in the same period last year, primarily due to lower sales.
Excluding one-time items, underlying profit before tax declined 34 percent to 28 million pounds from 42.5 million pounds a year ago.
Net profit was 2.7 million pounds or 3.0p per share, down from 33.7 million pounds or 38.5p per share last year.
Underlying profit dropped to 23.5 million pounds or 27.0p per share, from 36.4 million pounds or 41.9p per share a year ago.
Revenue for the period decreased to 139.3 million pounds from 162.2 million pounds in the previous year.
The company has declared an interim dividend of 13.42p per share, to be paid on June 28, to shareholders on the register on May 31.
Looking ahead, Jakob Sigurdsson, Chief Executive of Victrex said, "On a full year basis, current run-rates support low-to-mid single digit volume growth. However, as previously communicated, we are not expecting PBT progress for the year as a whole."
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