Investing.com — Shares in surged more than 15% Tuesday after the specialty polymer maker reported third-quarter revenue growth well ahead of expectations and reaffirmed its full-year profit outlook.
The U.K.-based company said revenue for the three months rose 18% to £84.5 million, driven by a 17% increase in sales volumes. Demand from aerospace and electronics customers remained the primary growth driver, while the medical segment showed early signs of stabilizing after a period of softness.
The stock jumped 15.4% to 671.40 pence, the highest level since early March.
“3Q was clearly strong, with some help from a weaker comp for Aerospace—we note we have in 6% revenue growth for 2H26,” Jefferies said in a post-earnings note.
Victrex’s board reaffirmed guidance for underlying pre-tax profit of between £42 million and £44 million for the full year, saying the outlook reflected confidence in the company’s medium-term earnings trajectory.
The company is continuing to roll out a profit-improvement program that includes cutting its workforce by about 10% and targeting annualized cost savings of at least £10 million by fiscal 2027. The company said it expects to begin seeing initial benefits from the plan in the fourth quarter.
Looking ahead, Victrex said that while it will start to see initial cost savings from the Profit Improvement Plan in the fourth quarter, it remains “mindful of normal seasonality and wider macroeconomic conditions including the potential implications for global demand and energy costs.”