4th Feb 2014 08:14
LONDON (Alliance News) - Victrex PLC said Tuesday that its performance during the first quarter was in line with its expectations, with the second quarter off to a good start due to a "much stronger" January.
In its first-quarter interim management statement, the polymer products company said group sales for the first quarter - the three month period October 1 to December 31 2013 - were up 6% on the comparable period, reporting 679 tonnes, up on the 640 tonnes reported for the first quarter of 2013.
Victrex said that its performance was in line with its expectations, and was followed by a much stronger January. The second quarter has started well with sales volume in January in excess of 330 tonnes and ahead of the softer comparative in the prior year.
The company adds that in Invibio, Victrex's biomaterials business, revenue for the first quarter and January was also ahead of the prior year, without providing actuals.
Anita Frew, Chairman of Victrex, said, "We have made an encouraging start to 2014, with first quarter performance ahead of the prior year and continuing our momentum from the second half of 2013. Although it remains early in our new financial year and our expectations are unchanged, we remain encouraged by the potential across our business."
Shares in Victrex were trading up 0.85% at 1,779 pence per share at the market open Tuesday, one of the biggest gainers on the FTSE 250.
By Alice Attwood; [email protected]; @AliceAtAlliance
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