LONDON (ShareCast) - The Times' Tempus column says it is time to take some profits in chemicals company Victrex. The high-peformance plastics maker yesterday confirmed that it has started construction on a new plant that will double its capacity to produce PEEK, a polymer used in planes, trains and cars, as well as oil rigs and artificial hips.

Although recent demand trends are encouraging, the shares have risen more than five-fold over the past ten years. Moreover, demand is volatile depending on economic sentiment.

Tempus also believes Norcros, the tile and shower maker, is best avoided. Its market value is just £70m, while its pension fund has assets of £360m, and a deficit of £36m at the last valuation in March 2009.

For years to come, its fortunes will be tied to its ability to meet pension promises made to 10,200 employees, most of them long since retired.

Meanwhile, the Questor team at The Independent has labelled recruitment group Robert Walters as a 'hold', after the firm said yesterday that the global economic backdrop is taking its toll on the industry with trading conditions tough in the UK, Europe and the Americas.

While the paper recommends to await further developments and the group's full-year trading update in January, it does highlight decent position despite the gloomy outlook.

The column cites Investec analyst Sebastien Jantet as saying: "Robert Walters continues to strike a balance between managing its cost base and investing for the future and should be well-placed to grow as and when market conditions improve."


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CM

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