Victrex raises annual guidance as "strong momentum" continues

Victrex PLC shares jumped on Wednesday after the company lifted its annual guidance amid strong growth across the board.

Shares in the Lancashire, England-based plastic polymers producer rose 15% to 998.35 pence in morning trading in London. It was the best performing FTSE 250 stock. The wider FTSE 250 was 0.3% lower.

The company, which serves the automotive, aerospace, energy & industrial, electronics, and medical markets, said "strong momentum" continued into its fourth quarter and that it saw good growth across all regions, particularly in Asia Pacific.

Victrex also said it completed a 10% reduction in its workforce, previously announced in May, which contributed to at least £10 million of annualised savings.

As a consequence, Victrex announced that it now expects full-year underlying pretax profit to be in the range of £45 million and £47 million, ahead of a prior forecast of £42 million to £44 million. The company's financial year ends on September 30.

Underlying pretax profit in financial 2025 was £46.4 million down 21% from £59.1 million the year prior.

Additionally, Victrex announced that Chris Gilbert joined as interim chief financial officer at the beginning of September.

"Chris brings extensive sector experience, including at Elementis plc, as well as proven capability of delivering large-scale finance transformation projects with Deloitte LLP," Victrex said.

Former CFO Ian Melling stepped down on July 31, seven months after James Routh took over as CEO. Victrex had not provided a reason for Melling's departure.

As this is an interim appointment, Gilbert will not be appointed as a director or join the board of the company, the firm explained.

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