LONDON (SHARECAST) - Victrex, maker of peek polymer, said sales momentum continued in the second half of the year as full year volumes reached a new record.
Second half volume rose 7% from the same period last year at 1,527 tonnes after strong demand at its polymer solutions business. Full year volume increased to a record of 2,904 tonnes compared to 2,860 tonnes in 2011.
Full year revenue at its Invibio Biomaterial Solutions business rose to £50.5m from £49.7m the previous year.
"Sales into the spine market were broadly in line with the prior year reflecting destocking at a select number of customers over the summer in response to the continued uncertainty in the US medical device industry," the group explained in an update ahead of its results for the year ended September 30th 2012.
Revenue from its developing markets outside of spine grew by 11%, predominantly in arthroscopy.
Looking ahead Victrex said initial sales volume order book for October is encouraging.
"Whilst we are cognisant of the uncertain economic environment, our confidence in the growth potential for our business through the development of new applications and markets remains strong," it said.