9th Sep 2026 10:16
(Alliance News) - 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 GBP10 million of annualised savings.
As a consequence, Victrex announced that it now expects full-year underlying pretax profit to be in the range of GBP45 million and GBP47 million, ahead of a prior forecast of GBP42 million to GBP44 million. The company's financial year ends on September 30.
Underlying pretax profit in financial 2025 was GBP46.4 million down 21% from GBP59.1 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.
By Camilla Borri, Alliance News reporter
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