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Boost for plastics manufacturer Victrex as sales and profits surge

HIGH-TECH plastics company Victrex today posted a three-fold increase in first-half pre-tax profit and raised its interim dividend by 23 per cent.

The Lancashire-based polymers and thermoplastics manufacturer said pre-tax profits were £30.8m compared with £10.2m in the same period a year earlier, with revenues rising 88 per cent to £89.3m as underlying sales growth was boosted by improved effective exchange rates.

Chairman Anita Frew said: “We are pleased to report excellent progress at Victrex with record half year revenue and profits. After last year’s challenging economicc conditions, there has been a strong rebound in sales volume in the Victrex Polymer Solutions business.”