Victrex plc (VCT.L), on Thursday, reported Q3 group revenue of £74.0 million, up 2% from the previous year's £72.2 million. Third-quarter group volume grew 20% to 979 tonnes from 818 tonnes reported a year ago.
Year to date Group revenue was £213.3 million, down 9% compared to £234.4 million generated in the same period of last year, reflecting the softer first half year and lower Medical revenues. YTD Group volume declined 2% to 2,716 tonnes from 2,759 tonnes in the previous year.
Jakob Sigurdsson, Chief Executive of Victrex, said: "With continued momentum in some end markets, we remain focused on our goal of a better second half year. However, high inventory levels and industry destocking amongst major medical device customers continue to be challenging for our Medical business. At this stage, Medical performance is tracking lower than our expectations for the second half year…"
The company further stated that its full-year volume guidance remains unchanged and continues to expect low to mid-single-digit volume growth.
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