Improved numbers and dividend hike from Victrex

Victrex, the polymer solutions specialist, reports core business volumes up over 15% and total sales volumes up 1% for the year to end of September 2017.

The group also reveals revenue was up 15% and pointed to strong performances in automotive, electronics (ex-Consumer), value added resellers and energy sectors.

During the year there was the £10m acquisition of Zyex PEEK fibres business to expand the groups semi-finished products offering.

Improved dividend

The company said record cash generation supported strong shareholder returns. The regular dividend was up 15% to 53.80p, with a special dividend of 68p/share

Commenting on the latest figures, Jakob Sigurdsson, Chief Executive of Victrex, said: "This has been a good year for Victrex, with the strength and broad based growth in our core business fully offsetting the expected and significant reduction in consumer electronics volumes.  

 "Our pipeline of new products - both our core application pipeline and our mega-programmes - remains strong and our aspiration to deliver 10-20% of sales from new products in the medium term is unchanged.”

 He added: "Whilst growth investment remains the priority for Victrex we will continue to focus on partnerships, alliances and acquisition opportunities to help accelerate our growth programmes, our ability to deliver strong returns provides an additional attraction.”