UK's Victrex H1 adjusted EPS falls on pricing pressure

Victrex

11/05/2026 07:09

Overview

UK high performance polymers maker's H1 revenue rose 1% on 6% volume growth

Adjusted EPS for H1 fell 24% as sales mix, pricing and currency weighed on profit

Company posted £44 mln reported loss before tax due to £61 mln China plant impairment

Outlook

Victrex expects FY 2026 underlying PBT in the range of £42m-£44m

Company anticipates slightly lower FY 2026 gross margin vs FY 2025, with H2 improvement expected

Company remains cautious on global demand and energy costs due to Middle East events

Result Drivers

VOLUME GROWTH - Revenue rose 1% as group sales volumes increased 6%, led by Sustainable Solutions and growth in Aerospace, Electronics, Energy & Industrial and VARs

SALES MIX AND PRICING PRESSURE - Profitability was hurt by a weaker sales mix, competitive pricing, and currency impacts, especially in VARs and Energy & Industrial

DECLINE IN MEDICAL REVENUE - Medical revenues fell 9% due to order phasing, weaker sales mix, and price pressure in certain applications and geographies

Company press release: ID:nRSK7056Da

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
Beat
GBP 147.10 mln
GBP 145 mln (1 Analyst)
H1 Adjusted EPS
Beat
GBP 0.17
GBP 0.16 (1 Analyst)
H1 EPS
-GBP 0.37
H1 Gross Margin
41.70%
H1 Adjusted Pretax Profit
Beat
GBP 19 mln
GBP 18 mln (1 Analyst)
H1 Gross Profit
GBP 61.30 mln
H1 Pretax Profit
-GBP 44 mln


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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)