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PRIVACY
Manufacturing

"Positive start" for polymer manufacturer Victrex

However the company has warned that its half-year performance will be weaker overall

Victrex works with companies including Airbus(Image: Victrex )

A Lancashire polymer manufacturer which works with the likes of Airbus has reported a "positive start" to its current financial year, with its revenue increasing.

Thornton Cleveleys-based Victrex has posted a revenue of £68.7m for first quarter of its year, between 1 October and 31 December 2020, a rise of 1%.

Group sales volumes also increased by the same amount, to 883 tonnes.

In a statement issued to the London Stock Exchange, the company added that Asia saw the most incremental improvement on a geographical basis, with a mixed performance in Europe and the US.

Chief executive Jakob Sigurdsson said: "This is a positive start to FY 2021 and we continue to see incremental improvement across several of our end markets.

"Nevertheless, the incremental improvement trend may remain variable and our assumptions are that we will still see a weaker first half overall, compared to H1 2020 which ended strongly.

"Consequently, at this early stage, our full year expectations are unchanged.

"Our priorities remain the health, safety and well-being of our employees and delivering strong service levels for our customers.