Shares in Victrex (LON: VCT) jumped more than 13% on Wednesday after the specialist polymer maker raised its full-year profit outlook in a pre-close trading update.’
The FTSE 250 constituent told investors that underlying pre-tax profit for the year ending 30 September 2026 is now expected to come in between £45 million and £47 million, above prior guidance of £42 million to £44 million.
The upgrade reflects continued momentum through the fourth quarter, with the company citing year-on-year growth across its end markets, particularly Aerospace, Value Added Resellers and Electronics. Regional performance was also strong, with Asia Pacific standing out.
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Victrex confirmed that a previously announced 10% headcount reduction has been completed, with early benefits already visible in the fourth quarter. The move forms part of a wider Profit Improvement Plan, which management expects to deliver at least £10 million in annualised savings during FY2027.
The update also detailed the completed sale of its US-based Kleiss Gears business to Heico Companies’ Industrial Technologies Group, a deal finalised on 7 August. Victrex said the specialist parts manufacturer no longer fits its core strategic focus and will record an exceptional loss on disposal of around £3 million in its FY2026 results.
Separately, the company announced Chris Gilbert has joined as interim Chief Financial Officer, bringing experience from Elementis plc and Deloitte.
Chief Executive Dr James Routh said the group looks forward to outlining its growth strategy further at a Capital Markets Event later this month.
