UK's Victrex falls after lower annual profit forecast, job cuts

Victrex

11/05/2026 08:23

** UK-based polymer maker Victrex VCTX.L down as much as 5.8% to 555p - among top losers on FTSE midcap index .FTMC

** Expects underlying profit before tax of 42 million pounds ($57.09 million) to 44 million pounds for fiscal  yr 2026, below company-compiled consensus of 46.6 million pounds

** Co to reduce headcount by about 10% and records 60.6 million pounds non-cash impairment of China manufacturing facility in H1 2026

** YTD stock is down about 13%

($1 = 0.7356 pounds)

(Reporting by Neeshita Beura in Bengaluru)

((Neeshita.Beura@thomsonreuters.com))