LONDON (dpa-AFX) - Victrex plc (VCT.L), a provider of polymer solutions, Tuesday reported profit before tax of 23.4 million pounds for fiscal 2024, significantly lower than 72.5 million pounds in the previous year, mainly impacted by lower revenue, as well as increase in expenses.
Excluding one-time items, underlying profit before tax was 59.1 million pounds, down from 80 million pounds a year ago.
Operating profit declined to 45.8 million pounds from 73.2 million pounds last year. Underlying operating profit was 60.3 million pounds, lower than 80.7 million pounds last year.
Net profit dropped to 17.2 million pounds or 19.7p per share from 61.7 million pounds or 70.5p per share a year ago.
Underlying profit was 44.9 million pounds or 51.7p per share, down from 67.5 million pounds or 77.7p per share last year.
Revenue for the year decreased 5 percent to 291 million pounds from 307 million pounds in the previous year.
Sales volume increased to 3,731 tonnes from 3,598 tonnes, while average selling price dropped to 78 pounds per Kg from 85.3 pounds per Kg.
The Board has proposed a final dividend of 46.14p per share, same as last year, to be paid on February 21, to shareholders of record on January 24.
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