VICTREX

Victrex has raised its adjusted pre-tax profit forecast for the year to 30 September 2026 to £45–47m (previously £42–44m) and reports continued momentum in the fourth quarter. The share rose about 15.8% to 1,004p, hitting a 52-week high of 1,018p. The update also notes completion of a 10% headcount reduction with expected annual savings of at least £10m, and the sale of US business Kleiss Gears (one-off disposal loss of around £3m). Victrex will present further details of its growth strategy at a Capital Markets Event on 24 September. » More on de.investing.com

Victrex H1 revenue rose slightly to £147.1m but underlying profit before tax fell 18% to £19m due to pricing pressure, adverse mix and a weak Q1. The group booked £63m of exceptional items, mainly a £60.6m non-cash impairment of the Panjin, China plant, producing a reported pre-tax loss of £44m. CEO James Routh announced urgent cost actions including ~10% headcount reductions, a decentralized operating model and a refreshed strategy to be unveiled in September. The board now expects fiscal 2026 underlying profit before tax of £42m–£44m and sees gross margin slightly below last year’s 45.3%. » More on finance.yahoo.com

Victrex has appointed Peter Kiernan (effective 1 March 2026) and Maria Antoniou (effective 1 September 2026) to the board. David Thomas, current non-executive director and chair of the audit committee, will step down on 1 July 2026; Kiernan will assume the role. Kiernan brings 30 years of investment banking and audit experience, while Antoniou has HR, governance and corporate culture experience from leadership roles in industrial companies. The board says the new appointments will support the company’s strategy and its programme to improve results. » More on de.investing.com