Victrex 'comfortable' with full-year expectations as it warns of tougher Q4

Plastics supplier Victrex said third quarter revenue rose 10% to £84m but warned of a tougher final three months as it forecast no sales volumes from a large consumer electronics order and currency headwinds.

Sales volume grow 14% to 1,161 tonnes. The firm's year to date group sales volume of 3,417 tonnes was 19% up on the prior year and year to date group revenue of £250.6m marked a 21% rise on 2017.

Victrex said it expected annual profits to be hit by £8m - £10m based on current rates and hedging in place, and reflecting some emerging raw material inflation.

It added that the third quarter had been impacted by a "slightly lower" contribution from the consumer electronics order.

Medical revenue was in line with the prior year and Victrex still expects to deliver "meaningful revenue" this year.

"With continued momentum in our core business and milestones in our mega-programmes, we remain well positioned to continue driving growth as part of our polymer and parts strategy," the group said.

"Although growth comparatives will be tougher in Q4, and we will see currency becoming a headwind, Victrex remains comfortable with full-year expectations. Overall, we are on track to deliver a strong performance for FY18 as a whole," the company said.

Victrex shares were up 2.46% to 3,080p at 0830 BST.

(Writing by Frank Prenesti)