**Summary**
Victrex PLC, a leader in high-performance polymers, reported a 1% revenue increase to ยฃ147.1 million for the first half of 2026, driven by a 6% volume growth, primarily in Sustainable Solutions. However, underlying profit before tax (PBT) declined by 18% to ยฃ19.0 million due to sales mix, pricing, and currency factors. The company faced a reported loss of ยฃ44.0 million after ยฃ63.0 million in exceptional items, including a ยฃ60.6 million non-cash impairment of its China manufacturing facility. Despite these challenges, Victrex maintained its interim dividend at 13.42p per share and is progressing its Profit Improvement Plan, aiming for ยฃ10 million in annualized cost savings by FY 2027. The plan includes a 10% headcount reduction, primarily in central functions, and a focus on portfolio simplification. The company remains committed to its China facility, seeing it as a key growth market, and is working to improve its operational efficiency. Victrex also highlighted its strategic focus on fixing foundations, improving execution, and unlocking potential through innovation and market expansion. The company expects FY 2026 underlying PBT to be in the range of ยฃ42-ยฃ44 million, with a continued emphasis on sustainable growth and profitability improvement.