Victrex increases its 2017 interin dividend by 4%

DividendMax Ltd.

Victrex increases its 2017 interin dividend by 4%


• Strong core business growth in H1

- Total sales volumes up 5%

- Core volumes up 19%, offsetting lower year on year Consumer Electronics

- Group revenue up 12%, constant currency revenue up 4%

- Record core volumes in Q2 of >1000 tonnes, driven by Automotive, Electronics (ex-Consumer), Value Added Resellers

- Medical remains muted, reflecting mature US Spine market

• Further pipeline progress

- New Gears mega-programme secures initial OEM production opportunity for 2018

- PEEK-OPTIMATM HA-Enhanced on track for FY17 meaningful revenue

• Investment to accelerate Polymer & Parts strategy

- £10m acquisition of Zyex PEEK fibres business to expand semi-finished products offering

- TxV Aero Composites joint-venture to support differentiated Aerospace products

- Polymer Innovation Centre on track for completion in H2; support prototyping & new grades

• Strong cash generation continues

- Cash up 90% to £86m and operating cash conversion 137%

Interim dividend up 4% to 12.20p (H1 16: 11.73p)

Companies mentioned