Victrex first half pretax profit jumps 10%
Victrex posted a 10% rise in pretax profit to £53.9m for the first half of this year, on revenue of £130.3m, up from £120m in 2014, as a strong performance in its polymer solutions offset lower sales to its oil and gas customers.
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The company, which specialises in high performance polymer products, raised its interim dividend to 11.73p from 11.39p a year earlier.
Looking ahead, the company’s chief executive David Hummel said : “For the second half year, we are mindful of the tougher comparatives and the ongoing caution in the Oil and Gas market.”
“Foreign currency remains a considerable headwind although we still expect to fully overcome the impact through our positive growth momentum. Consequently, Victrex continues to be well positioned for profit progress over the full year.”