Victrex Shares Rally Following Raised Profit Forecast

Shares of Victrex plc (LSE:VCT) climbed 14.4% on Monday after the high-performance polymer solutions provider lifted its profit outlook for fiscal year 2026.

Victrex now projects underlying profit before tax in the range of £45 million to £47 million, up from its earlier forecast of £42 million to £44 million for the fiscal year ending September 30, 2026.

The company said strong momentum continued into the fourth quarter following its July 7 trading update for the third quarter. It reported year-on-year growth across all end markets, driven by the Aerospace, Value Added Resellers, and Electronics sectors. Victrex also noted growth in every geographic region, with particularly robust performance in Asia Pacific.

The previously announced 10% reduction in headcount has been completed, with early benefits observed during the fourth quarter. Victrex stated that this action is contributing to at least £10 million in annualized savings from its broader Profit Improvement Plan, expected to be fully realized in fiscal 2027.

On August 7, Victrex finalized the divestment of its U.S.-based Kleiss Gears business to The Heico Companies' Industrial Technologies Group.

According to Victrex, the assets and expertise of Kleiss are no longer a key part of its strategy following the successful establishment of the PEEK gears market. The company will record an exceptional loss on the disposal of approximately £3 million in its fiscal 2026 results.

Victrex also announced that Chris Gilbert joined as Interim Chief Financial Officer on September 1. Gilbert brings experience from Elementis plc and Deloitte LLP. As an interim appointment, Gilbert will not be appointed as a Director or join the Board.

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