Business
Preliminary Results
Victrex plc reported preliminary results for the year ended 30 September 2025, with group sales volume increasing by 12% to 4,164 tonnes, though revenue saw a modest 1% rise to £292.7 million due to a less favourable sales mix and currency fluctuations. Underlying profit before tax decreased by 21% to £46.4 million, impacted by foreign exchange, China start-up costs, and sales mix, while reported profit before tax rose 44% to £33.8 million due to lower exceptional items. The company maintained its dividend per share at 59.56p and has a Profit Improvement Plan underway targeting at least £10 million in savings. For FY2026, Victrex anticipates low to mid-single digit volume growth, broadly stable average selling prices, and a gross margin between 45.5% and 46.5%. Disclaimer*
About this update from Victrex Plc
[{"type":"text","content":"\n\n \n2 December 2025\nVictrex plc - Preliminary Results 2025\n \nSTRONG VOLUMES OFFSET BY SALES MIX, FX & CHINA START-UP\nH2 PBT IN-LINE WITH H1\nPROFIT IMPROVEMENT PLAN UNDERWAY\n \nVictrex plc is an innovative world leader in high performance polymers, delivering sustainable products which enable environmental and societal benefit across aerospace, automotive, electronics, energy & industrial and medical. This announcement covers preliminary results (audited) for the 12 months ended 30 September 2025.\n \n\n\n\n\n \n\n\nFY 2025\n\n\nFY 2024\n\n\n% change (reported)\n\n\n% change\n(constant currency1)\n\n\n\n\nGroup sales volume\n\n\n4,164 tonnes\n\n\n3,731 tonnes\n\n\n+12%\n\n\nN/A\n\n\n\n\nGroup revenue\n\n\n£292.7m\n\n\n£291.0m\n\n\n+1%\n\n\n+3%\n\n\n\n\nGross profit\n\n\n£132.6m\n\n\n£134.3m\n\n\n-1%\n\n\n+5%\n\n\n\n\nGross margin (GM)\n\n\n45.3%\n\n\n46.2%\n\n\n-90bps\n\n\nN/A\n\n\n\n\nUnderlying profit before tax (PBT)1\n\n\n£46.4m\n\n\n£59.1m\n\n\n-21%\n\n\n-10%\n\n\n\n\nUnderlying EPS1\n\n\n43.9p\n\n\n51.7p\n\n\n-15%\n\n\nN/A\n\n\n\n\nReported PBT\n\n\n£33.8m\n\n\n£23.4m\n\n\n+44%\n\n\n+157%\n\n\n\n\nBasic EPS\n\n\n32.0p\n\n\n19.8p\n\n\n+62%\n\n\nN/A\n\n\n\n\nDividend per share\n\n\n59.56p\n\n\n59.56p\n\n\nflat\n\n\nN/A\n\n\n\n\nNet debt\n\n\n£24.8m\n\n\n£21.1m\n\n\n+18%\n\n\nN/A\n\n\n\n\n \n \nKey points:\n \n\n\n\n\n· \n\n\nStrong volumes, up 12%\n \n\n\n\n\n \n\n\n-\n\n\nFY 2025 Group volumes 4,164 tonnes (FY 2024: 3,731t) driven by VARs* and Energy & Industrial\n \n\n\n\n\n· \n\n\nRevenue up 1%\n \n\n\n\n\n \n\n\n-\n\n\nAverage selling price ('ASP') £70/kg (FY 2024: £78/kg); c80% of year-on-year movement due to sales mix and FX; like-for-like pricing broadly stable in non-VAR/Energy & Industrial end markets\n\n\n\n\n \n\n\n-\n\n\nMedical revenue down 5% at £58.8m driven by Spine; 7% growth in Non-Spine business (including 12% growth in Non-Implantable Medical)\n \n\n\n\n\n· \n\n\nUnderlying PBT down 21% to £46.4m on FX, China costs & sales mix; H2 PBT in line with H1\n \n\n\n\n\n \n\n\n-\n\n\nFY 2025 underlying PBT down 10% in constant FX\n\n\n\n\n \n\n\n-\n\n\nReported PBT up 44% at £33.8m after £12.6m (FY 2024: £35.7m)...