Victrex warns on profit, revenue as volumes slump
By Frank Prenesti
Date: Wednesday 14 Jun 2023
(Sharecast News) -
Victrex said annual profits would be sharply lower as group volumes continued to fall due to industrial headwinds.
The company on Wednesday said group revenue was now tracking down by a mid-single digit percentage rate, with volumes down more than 20% year on year.
"If current run-rates continue, full year revenue would be down between 6%-10%," it added.
"With no step up in demand going into the final quarter currently visible, and the resulting lower industrial revenue expectations, our full year adjusted profit before tax is now expected to be between £80m - £85m."
The company made underlying profits of £95.6m in the year to September 30, 2022.
Reporting by Frank Prenesti for Sharecast.com
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN