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Plastics producer Victrex reported a 46% rise in annual profit and declared a special dividend, as improving market conditions boosted sales volumes.
Pre-tax profit for the year through September increased to £92.5 million, up from £63.5 million year-on-year, as revenue climbed 15% to £306.3 million.
Victrex more than doubled its full-year dividend payments to 109.56p, up from 46.14p year-on-year.
That included ordinary dividends of 59.56p per share, plus a special dividend of 50p per share.
Sales volumes jumped by a quarter, bolstered by double-digit growth in the electronics, energy and industrial spaces.
Looking forward, the company said it expected to see 'year-on-year progress' in sales volumes during the current financial year, amid a further recovery in certain end markets, including medical.
Victrex added, however, that it was also facing cost increases.
'In addition to a sizeable currency headwind, like most industrial companies, we are facing increased raw material and energy costs, which will impact us particularly in the first half, although mitigation plans are progressing,' chief executive Jakob Sigurdsson said.
'We will increase our investment in innovation and will start to incur commissioning costs in relation to our new China facility, although better asset utilisation should support our margin.'
'Overall, we plan to deliver year-on-year growth in the 2022 financial year.'