Victrex plc

Victrex, the British specialty chemicals firm, has raised its full-year profit guidance after stronger fourth-quarter trading, sending shares up around 15% and making it one of the FTSE 250's biggest winners. The company now expects underlying pretax profit of £45 million to £47 million for the year ending September 30, up from its previous £42 million to £44 million range, driven by improvements in aerospace, electronics, and value-added resellers, with all geographic regions growing and Asia Pacific particularly strong. Revenue in the third quarter jumped 18% year on year to £84.5 million, with volumes up 17%, while average selling prices remained stable at £68 per kilogram, indicating genuine demand rather than price increases. Cost-cutting measures, including a 10% workforce reduction, are delivering savings, and the company expects at least £10 million of annualized savings by 2027. Victrex also sold its US-based Kleiss Gears business in August, recording an exceptional loss of around £3 million, as part of a portfolio cleanup. The company's high-performance polymers, used in aerospace, electronics, and medical devices, are benefiting from structural trends, and management is expected to provide more detail on its growth strategy later this month.