Victrex sales update disappoints

The price of shares in FTSE 250 polymer solutions specialist Victrex (LON:VCT) fell by 1.82% to 1,886.98p (as of 13:45 BST) after the company reported that sales during the final quarter of the year ended 30th September were down by 26%. Revenues for the full year were down by 10% and profits are expected to be impacted due to the firm’s high fixed cost base.

Management said that trading had been subdued at the start of the current year although there had been some improvements as the COVID headwinds lessened. The firm expects performance in the immediate future to be similar to the last quarter.