AGM and Q1 Interim Management Statement

RNS Number : 1744Z

Victrex PLC

04 February 2014

 



4 February 2014

Victrex plc

AGM and Q1 Interim Management Statement

'An encouraging start to 2014'

Victrex plc, an innovative world leader in high performance polymer solutions, today releases its first quarter (Q1) Interim Management Statement ahead of its Annual General Meeting being held this morning.

Overall, first quarter performance was in line with our expectations, followed by a much stronger January. Group sales volume for Q1, covering the three month period 1 October to 31 December 2013, was 6% ahead of the same period last year, with 679 tonnes (Q1 2013: 640 tonnes). Our second quarter has started well, with January sales volume in excess of 330 tonnes and ahead of the softer comparative in the prior year.  In Invibio, revenue for the first quarter and January was also ahead of the prior year.

Anita Frew, Chairman of Victrex, said: "We have made an encouraging start to 2014, with first quarter performance ahead of the prior year and continuing our momentum from the second half of 2013. Although it remains early in our new financial year and our expectations are unchanged, we remain encouraged by the potential across our business."

Victrex remains in a strong financial position, with a healthy balance sheet, good cash generation and no significant changes to our financial position since 30 September 2013.

Enquiries:

Victrex plc:

Andrew Hanson, Head of Investor Relations                                      [phone]

Louisa Burdett, Group Finance Director                                             [phone]

David Hummel, Chief Executive                                                         [phone]

MHP Communications:

Nick Denton / James White                                                                [phone]

About Victrex:

Victrex is an innovative world leader in high performance polymer solutions. Every day, millions of people rely on products or applications which contain our materials, from smartphones, aeroplanes and cars to oil & gas operations and medical devices. With over 30 years' experience, we are investing in technology leadership to deliver new solutions to our customers and our markets. Find out more at www.victrexplc.com

Investor and analyst call:

Victrex will host a conference call for Investors and Analysts at 09.00 GMT today. For dial in details please contact Ben Griffiths at MHP Communications on 0203 128 8560 or [e-mail]

AGM:

Victrex will host its Annual General Meeting at 11.00am GMT today, Tuesday 4 February 2014, at the Andaz Hotel, Liverpool Street, London EC2M 7QN.

 

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