Victrex has increased its profit guidance in its pre-close trading update, following a 10% reduction in its headcount.

The high-performance polymer solutions provider now expects its full-year underlying profit before tax to be in the range of £45m to £47m in the year to 30 September, ahead of its previous £42m to £44m guidance.

The firm said that since its Q3 update, strong momentum has continued into Q4, with year-on-year growth across its end markets driven by aerospace, value added resellers and electronics.

It said that it has reduced its headcount by 10%, as previously announced, with the initial benefits being seen in Q4. Victrex said this has continued to at least £10m in annualised savings from its wider profit improvement plan, which is expected to be delivered in the next full financial year.

The update comes as the company appointed Chris Gilbert as its interim CFO.

Following the update, shares in Victrex increased by over 14%, marking a 60% increase in the last six months.

CEO at Victrex, Dr James Routh, said: "We have maintained our strong momentum during Q4, with revenue growth driven by improved performance across key end markets and all regions. As a result, we now expect full-year underlying PBT for FY 2026 to be ahead of our prior guidance.

"We look forward to providing further detail on our compelling growth strategy and clear and differentiated value proposition during our Capital Markets Event later this month."

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