Edition:
India

Victrex To Stockpile Goods Ahead Of Brexit


Tuesday, 4 Dec 2018 

Dec 4 (Reuters) - Victrex PLC ::FY GROUP SALES VOLUMES 4,407 TONNES VERSUS 3,992 TONNES.FY GROUP REVENUE £326.0MLN VERSUS £290.2 MILLION.FY PROFIT BEFORE TAX (PBT) £127.5 MILLION VERSUS £111.0 MILLION.REGULAR DIVIDEND UP 11% TO 59.56P/SHARE AND SPECIAL DIVIDEND OF 82.68P/SHARE.CONTINUE TO BE WELL-PLACED FOR MEDIUM AND LONG TERM.CONTINUES TO CONSIDER POTENTIAL IMPACT OF BREXIT ON ITS BUSINESS.HAS A TEAM IN PLACE TO CONSIDER VARIOUS CONTINGENCIES FOR BREXIT, THROUGH TRANSITION PERIOD AND BEYOND.ADDITIONAL WAREHOUSING FOR FINISHED GOODS STOCK SECURED IN MAINLAND EUROPE AND CHINA.ADDITIONAL WILL ALLOW A MINIMUM OF EIGHT WEEKS OF FINISHED GOODS STOCK TO BE HELD OUTSIDE UK BY END OF MARCH 2019.ALSO SECURED SOME ADDITIONAL RAW MATERIAL STOCKS AHEAD OF BREXIT; GROUP INVENTORIES COULD EXCEED £80M THROUGH FY19 AS A CONSEQUENCE.FOR FY19, CO IS AGAIN BUDGETING FOR SIGNIFICANT INCREASE IN 'BUSINESS-FACING' OVERHEAD INVESTMENT.GUIDANCE FOR GROUP CAPITAL EXPENDITURE FOR MEDIUM TERM AT £20M-£25M PER ANNUM REMAINS UNCHANGED.EXECUTIVE COMMITTEE HAS BEEN ESTABLISHED TO MONITOR BREXIT DEVELOPMENTS AND DIRECT MITIGATING ACTIONS.