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Specialty plastics maker Victrex first-half profit rises

Reuters - UK Focus

May 20 (Reuters) - Specialty plastics Victrex Plc (LSE: VCT.L - news) reported a 7 percent rise in pretax profit for the first half riding on strong demand for its PEEK polymer products.

Victrex, whose PEEK thermoplastic resins, film and pipe are used in the Boeing (NYSE: BA - news) 787 aircraft, said pretax profit for the six months ended March 31 grew to 48.9 million pounds ($82.3 million) from 45.7 million pounds a year earlier.

Revenue jumped 13 percent to 120 million pounds, while volumes rose 14 percent to 1,584 tonnes.

Analysts on average expected the company to report pretax profit of 49.05 million pounds on revenue of 97.7 million pounds, according to Thomson Reuters I/B/E/S.

($1 = 0.5943 British Pounds) (Reporting by Karen Rebelo in Bangalore; Editing by Gopakumar Warrier)