Shares in Victrex fell by over 4% after the firm reported a 6% decline in revenue in the three months to 31 December, totalling £62.4m.

The provider of polymer solutions to the automotive, aerospace, energy and industrial, electronic and medical markets, recorded a 4% drop in its sales volume in this period, while its average selling price dropped by 2% to £73 per kilogram.

In the four months to 31 January, Victrex’s volumes were in line with the prior year, with January recovering some of the shortfall from a weaker December.

However, its revenues in the year to date were slightly lower than the prior year, reflecting sales mix.

In its outlook, Victrex’s full-year performance is expected to be weighted to the second half of the year, with its H1 performance set to be weaker year-on-year, reflecting on the weaker end to Q1 and the currency headwind being weighted to the first half.

The firm said that actions are progressing at pace to deliver its profit improvement plan. This is focused on portfolio simplification, operating effieincy and overhead costs.

It is targeting annualised cost savings of at least £10m to be realised in the 2027 financial year, with some initial benefits in H2 2026.

Chief executive officer at Victrex, Dr James Routh, stated: "The start of FY26 reflected usual Q1 seasonality, alongside a subdued performance across some end-markets. On a year-to-date basis, our second quarter started solidly, with YTD volumes now in line with the prior year.

"Whilst we continue to be mindful of wider macroeconomic conditions, our full year guidance remains unchanged. As previously communicated, performance will be weighted to the second half. The first half is expected to be weaker than the prior year.

"At this early stage of my tenure, I have been impressed with our innovation know-how, our breadth of growth opportunities and the passion of our talented people to rapidly adapt and improve our financial performance. FY26 will be a transitional year, with our profit improvement plan helping us become a more efficient, growth focused and performance oriented company."

---