Share Name Share Symbol Market Type Share ISIN Share Description
Victrex Plc LSE:VCT London Ordinary Share GB0009292243 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  14.00 0.58% 2,428.00 2,426.00 2,430.00 2,434.00 2,410.00 2,434.00 42,053 12:43:08
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Chemicals 294.0 104.7 107.2 22.6 2,099

Victrex Share Discussion Threads

Showing 1 to 21 of 600 messages
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DateSubjectAuthorDiscuss
04/5/2001
12:39
There's been a healthy 10% rise in the last few days, leading to a few fortunate enough to get in at the bottom to take their small profits. I have no idea why people believe in 'a profit's not a profit until it's banked' - as far as I can see, it causes people to 'bank' tiny profits when there is potential for much more. I suppose some traders jump from company to company without really understanding what those companies do. Yesterday seemed to be the day the low-profit takers sold, and that's only to be expected, even though irrational. I feel the way is now clear for Victrex to move on to a valuation which reflects its potential, as well as its current profitablility. Still a cheap way into a company well positioned to benefit by the massive increase in fuel cell use over the next few years. If medical (and other) uses of its Peek polymer continue to grow, then that is a further dollup of icing. imho.
shy tott
04/5/2001
10:16
Hi, I did a quick look-up on BII - Biocompatibles. It has a market cap of £400 MILLION! For Victrex to get a similar market cap its share price should rise to £6. Currently its £3.40 Victrex makes a profit, pays a dividend and is on a very strong growth curve - does BII? I high-light BII because its in the medical stent business. VCT is also in the medical hardware business as well as a host of others.
netcurtains
30/4/2001
19:00
Plenty of big buys today, marked as unknowns on ADVFN, but trades at 328 with a price of 325/328, the 300k certainly look like buys to me. Institutional buys at that. Roll on the results.
shy tott
30/4/2001
08:04
I think results about 14th June - Goes Ex-Dividend on 20th June? Could have a good run up to results and dividend
netcurtains
30/4/2001
07:29
Victrex has come off 25% over the last couple of weeks, possibly engineered by a broker picking up stock cheaply for clients (this was discussed in another thread). VCT is an excellent fuel cell play - they produce a polymer with exceptional properties with many applications, and the company seems more excited with its medical uses rather than its FCT applications (which I like). Maybe they'll be rapid expansion in both areas. VCT control the raw material supply for Peek, so there are barriers to entry for others. They hold patents in its applications, and also have a contract for supply with Ballard, the world's leading fuel cell manufacturer. If you want to get in FCT, now is an excellent opportunity, imho. My top 3 picks for FCT exposure (as discussed in the 'fuel cell' thread) are Victrex, UCM Group and Johnson Matthey. Worth researching for those who, like me, think FCT will have a major impact on travel (cars, buses, lorries), electricity generation and battery replacement in the near future.
shy tott
20/3/2001
12:15
Several good quality VCTs have now closed. I have put a few £££s in Quester, Artemis, Proven Media and Close Tech/Gen, and had a look through the remaining options at the w/e. Artemis looks good, tho' high risk if they invest promptly in their UTs, and the market then crashes...c'est la vie. I've also revised my opinion a little on Trivest (now more +ve). Diversified certainly, with a good sectoral spread, and spread across phase of company development - from early stage startup to AIM. All managers seem to have a good record, and the fund looks to be on course for raising £50M. I've bought a few. There are several that look "nondescript", me-too types of fund. Those I'm not much a fan of include Leggmason and Leisure/Media. The Academic Technology fund looks v. high risk and has raised trivial funds. Of course, all are v. long term, are said to be high risk, and I know nuffing about investment, so DYOR.
spin doctor
18/3/2001
22:05
ddahj, Totally agree that specialist advice/info is called for; Allenbridge will do a deal,splitting the commission 50/50 and providing the report free - but I guess they need to believe you will actually invest thro' them ! The status of fund raising is available daily on the Allenbridge site. Of course it is conceivable that there will be a 50% drop in NAV, but I don't believe that any of the VCT's has come close to that feat. Foresight put out a note this week on the impact of e-district's problems, which sounds pretty dire; fortunately I am only in the "C" issue - phew ! There is no requirement to get too tech. based. Many of the VCT's are more broadly based. I see 5 years as the absolute minimum - some say 7 to get full performance. thinker, I agree with you on the charging structure of VCT's. I also like Baronsmead; looking at Artemis, as the idea of AIM appeals over the next two years, as does having the "cash" invested in some well run (?) units coming out of the current malaise, pending qualifying investment. Regarding EIS, I am unsure about how private you mean ? Certainly it seems that Allenbridge only flag the small minority of EIS that pay commission. I source prospectus' direct from outfits such as Loeb Aron, Acorn, Ruegg, Matrix, Daniel Stewart and Close. There is an interesting website that reviews forthcoming offers; I'll look out the URL. The smallprint is a minefield in my mind; I wonder whether those EIS where there are arranger warrants for the sponsor (as the majority of their fee)is a good signpost - it should be. More privately, I have come across Private Capital Exchange, Angel Bourse and Sentec as introducers. I have only dealt with Sentec; this area really has to be about the riskiest invstment proposition around ?? The other option is the collective EIS introducers; I recall Close in this arena, there is another operator. This may be the best way forward on EIS, but I havn't any direct experience. I prefer the prospect of getting my money out cleanly at some point; not sure that these schemes have clear exit paths. Last point: have you looked at the Serial Relief tax provisions for EIS ? Sounds interesting. Good luck, tightfist
tightfist
18/3/2001
08:22
Like many, I had big capital gains to shelter this year. Have bought into 3 VCTs - Northern, Artemis and Baronsmead. For me this is the moderate risk, tuck away part of my portfolio. Am not expecting stellar returns, just good market outperform (over 3-5 years), with the chance or some upside. For me the big downside with VCTs are the high costs of the funds, initial chargs, annual charges and performance based charges. The team needs to do very well to deliver extraordinary returns to us. What I would really like is to get hold of more EIS issues. Unfortunately, the only ones on public offer are rather unattractive. Looked at Childcare Corp where a huge proportion of the upside (if any) went to the directors. Have sourced other EIS offers privately; can anyone point to other sources of these? I still have a lot of GCT to defer this year. thinker
thinker
17/3/2001
15:08
Spindoctor, Thank you for your response to my post. I have now received information from Allenbridge, (go to www.tax-shelter-report.co.uk), Bestinvest, (go to www.bestinvest.co.uk), and Hargreaves Lansdown, (go to www.hargreaveslansdown.co.uk). I think this is one area where it is worth going to a large Independent Adviser as opposed to a small local organisation. My experience of local firms was that they were unaware of all the tax benefits and had little time to analyse all the present offers. Also the big firms give discounts. Allenbridge charge £295 for their Tax Shelter Report, it is free if you invest over £10,000. It’s probably worth subscribing just to get a better idea of what you’re investing in. I will know in about 5 years if the advice is profitable. I was disappointed that Harvest didn’t raise their minimum subscription, I hope I get my cheque back soon so that I can invest it this tax year. The article in this week’s Investor’s Chronicle will be helpful since it gives information on the percentages of funds raised for VCTs presently on offer. The tax advantages of VCTs are quite obvious but I still think it is better to be cautious with these investments. What I mean about the 50% drop in value is that both the investment itself could drop in value and there will be a discount to NAV. Many of these tech companies seem to burn a lot of cash and if they don’t come up with a new product or a viable business they simply become worthless. I maybe over pessimistic about VCTs but I like companies that produce profits. The other problem with VCTs is that you must keep them for 3-5 years. I will let you know what else I buy. Other views welcome.
ddahj
15/3/2001
22:43
Spin Doctor, I am in the same situation. Got out of some longer term holdings, so the taxman beckons. With the depressed share prices levels we are likely to see over the next few months the opportunities for VCT's picking-up new issue bargains seem to be there. Tempted to get in sooner rather than later, as niggle suggested. So I'm reviewing over the weekend - will post then. tightfist
tightfist
15/3/2001
01:49
Harvest has failed to make its minimum. It's ironic that the lowest risk, non-tech based VCT has failed in this market! Though I guess techs are starting to look fair value now. ddahj - you'll get your cheque back within a few weeks - may be worth asking the registrars when that'll happen. Consider the other VCTs that are open, but be choosy. kmeeres, tightfist and all I've pulled a few K out of the market this last day or two - which VCTs are catching your eye? Cheers
spin doctor
12/3/2001
22:31
Spin Doctor, For whatever reason the Allenbridge site isn't reporting the position on Harvest subscriptions. I totally agree with your views (and niggle's) on the opportunities within a sustained tech slide. I cited a couple of instances in post 6; small tech companies are going to be desperate for capital over the next few months. At the rate I am stop-lossing out on AIM stocks I will be joining you for some VCT's (probably AIM - based?) before the end of the month !! tightfist
tightfist
12/3/2001
00:47
I bought Trivest as well, also Northern E ventures and Matrix. As most of the money is held as cash with these I see little downside in the short term. As they invest their money at the bottom of a tech slump, if the co's are half right they should offer a good return over 3-5 years. also I hve 'bought' £1 for 40p which isn't bad is it? The alternative was paying the cgt niggle
niggle
11/3/2001
23:59
ddahj Your choices seem reasonable. Just sit back for 5-20 years and don't fret. Artemis - as Tightfist says. Invested in Artemis unit trusts early (most others are in gilts), thus increased risk, but their UTs may continue to fly. Trivest not one of my faves - diversified management spreads risk but maybe reduces individual managers incentive? cf. Quester/Baronsmead/Harvest where the (small) teams are massively incentivised to perform. Having said that, it should do fine, maybe just not stellar. Harvest is top of my favourite list. New, small team, but with a track record. Telephoned them recently; very helpful, sensible, enthusiastic. A distinctive VCT - emphasis probably more old economy than most; loan equity bias; largely MBO/MBI of cash generative businesses; probably substantial income -- greater dividend than most in the early stages. The big question is whether they'll get to the minimum £5M subscription figure by this Wednesday. If they don't, the issue is pulled and you'l get your cheque back. That'd be a shame for the team, for the genuine alternative they provide, and for you! I'm going to phone them again Wednesday to find out if they've made it, and will post here. If the issue goes ahead, I'm in for a few. Agree about investing (close to) the bottom of a Tech slide; presumably there are some Tech Venture Cap bargains out there. SD
spin doctor
11/3/2001
11:51
ddahj, A few thoughts: I am unsure why you believe that a VCT will drop to a 50% discount to NAV. OK, they are very illiquid at present which is why the VCTs have been buying back if anyone wants out. I havn't checked closely the discount they are applying, but I get the impression that is 5 - 10%. The VCT's don't want a large discount to develop and always have cash to mop-up the small flow of sellers. Obviously these purchases gear-up the NAV for remaining holders, and close-in the trigger point for the incentive payments! In the early years they generally have a lot of cash to underwrite the NAV; the few funds that are going into inelligible stocks for the first two years could be vulnerable, I accept. The quality of the investment must always rate higher than the tax break. VCT's are viewed as high risk, but the pooling effects and the quality of the management can offset these issues to a considerble extent in my view. It will be interesting to see the NAV movements over the next couple of months as the bombing of the high-tech success stories hits the NAV and any disposals become clearer. The AIM funds are clearly more vulnerable here. As for your choices, Allenbridge rate Artemis at 2 out of the 4 current AIM offerings. Harvest is 82 and Trivest 80 (bottom) on a scale of 83 - 80 for generalist VCT's. In the past I have believed that AIM VCT's may not perform so well in the longterm, since much of the really early pre-IPO growth is already in the price. But with the current collapse in prices there could be a lot of bargain rescue offers in the wings for later this year ?? NMT was accessed by VCT's in volume at 15p, Mondas also. I note that companies such as Auto Indemnity and ThreeW.net are bringing in institutional funds; whether these are VCT's I don't know, but if so these could look like bargain purchases 12-18 months out. If you want to find what other people are buying then the answer is posted daily at www.tax-shelter-report.co.uk. One interesting approach is to buy into established funds on one their small secondary offerings that arise occasionally. If you can get into a maturing fund before the NAV rise it could be a good deal ? Hope this is helpful; other views, please ! tightfist
tightfist
10/3/2001
22:12
Spindoctor, Thank you for you interesting post. I have some Capital Gains and have recently invested in VCTs. I could invest more and get 40% CGT and 20% income tax back, but I wonder if VCTs are going to be good investments. I have to sell shares to buy VCTs. I haven’t got any Telecom, Media or Biotech Shares and think those shares I have seem fairly good value. Luckily I sold Atlantic Telecom now worth 5% and Cambridge Antibody worth 20% more. The NASDAQ has fallen 50% in the last year and VCTs could do the same. So I find myself considering whether to sell an Investment Trust, (Rutland), which are not showing any gains but are at a 25% discount to net assets. That means £10,000 invested buys £13,300 of assets. VCTs have a 5-6% setting up fee. To prove my point I am going to assume the VCT assets either fall as much as the NASDAQ or are discounted as much. If I invest £10,000 this only amounts to 40% of my investment and hence I can buy £25,000 of assets. The value of this investment will only be 95% because of the setting up fee and then using my assumption of 50% discount the value will be £11875=10,000/0.4*0.96*0.5. So although the tax benefits seem marvellous it doesn’t seem so good if the investment is no good. I believe VCTs are risky and if I buy them I would like to buy outside the risky sectors. I would like to know which VCTs other people are buying. I bought 6/15 Artemis, 5/15 Harvest and 4/15 Trivest but am not sure whether I have invested in good value shares.
ddahj
10/3/2001
19:33
Spin Doctor, kmeeres; I tried (in vain !) to get a thread going on EIS some while ago; bit of a flop, I believe oldtimer in interested in them. VCT's threads have not caught on, either. As for me, I have built up a portfolio of VCT's over the past four years and now have a stake in about ten of them. Like kmeeres, I expect to hold them well into retirement although I may sell out of a couple of the weaker ones when the five years is up, fairly shortly. The returns are very acceptable at this stage and should continue to grow nicely. The small size of the funds concerns me in the secondary market, although I intend to be a very long term holder. If I get bored with the investing scene in due course, the idea of progressively realising our (me and my wife) annual CGT allowances by selling buying back directly to the companies at a reasonable discount seems sound. Could even do that from my bathchair !! Ultimately it is down to "the management", big time. Personally I like the Quester and Baronsmead style of open communicative operation. One or two others (like Elderstreet) are like a mystery tour as far as I am concerned - not reassuring. I use the excellent research from The Tax Shelter Report to help me along the way, although you do have to read between the lines somewhat. You can get a deal on receiving the Report FOC and splitting the commissions if you speak to Martin Churchill - it's worth it. I am uncomfortable about the glut of new offers coming on the market. There must be some fairly weak players coming into what is a pretty specialised discipline and potentially too many funds chasing the great opportunities ?? Could get VCT's a bad reputation in a couple of years time; as Baronsmead say, the lemons ripen before the plums in this business. --------------------------------------------------------------------------- I have dabbled into EIS's, primarily looking for greater gains in targetted high-potential companies and exploiting serial relief. Selection is really difficult (in my opinion) with all sorts of oddball director behaviour in the small print. My first was KMS (which never got to the EIS relief, but at a 70-bagger I am not complaining !). Since then I am in Disperse Tech., Surface Transforms and an unquoted that I may live to regret/or retire on. I look for relationships with big players, and an IPR/licensing model. There are not many in that vein, but you only to find a couple a year. If either of you have got into the mechanics of serial relief I would appreciate your input; courtesy of last year's budget it enables you to leapfrog from one EIS to another within the (now) three year period without foregoing the tax breaks. As allways, DYOR !! tightfist
tightfist
10/3/2001
01:04
Excellent - i have been hoping for someone to open up this topic somewhere. Also http://www.tax-shelter-report.co.uk/ and Hargreaves lansdown do a free VCT newsletter. EIS - had lots of mailshots but with one exception was not impressed, the one i liked as a good prospect did not look like having a good return for the EIS investors compared to the current owners and that was based on some optomistic projections. Anyway i would not consider EIS until using up the VCT allowance (100K PA). It also helps if you have Business experience in the relevant area. I was advised that 'EIS is not something we would advise for most of our retail customers'. I have bought VCT's since 97 and will probably continue,returns to date have been very adequate from my POV although i have a very long term view of them. I expect to hold for 20 years , possibly until death. I think that the returns will come mostly from dividends or wind ups as i do not forsee their shares becoming widely traded, an exception to that though may be if an underlying company becomes the target of a takeover which could be very interesting. Allof which is my opinion and not advice etc :)
kmeeres
09/3/2001
23:55
Little experience of EIS; some of the offers look kindafun - remember one recently for a lapdancing joint. No doubt that's a cash generative business - for the girls at least. Not sure if there were shareholder perks. Squinted at another offer document recently - Amelca (milk processing), and the profits forecasts looked unbelievably optimistic. Not impressed. Maybe some will come good, but I'd want real in depth info. before I took the plunge there. I'm being dull and sticking to VCTs, in addition to playing with individual quoted stocks within ISAs/PEPs. If you have time, post a few thoughts, + and -. Negatives for me include locked in for 3 years, effectively more charges performance - some have been slated for poor performance over 3-5 years, but this seems unfair - venture cap. needs a good deal longer to realise the goods. However some do seem genuinely mediocre - British Smaller Companies comes to mind. And some have generated good returns on the back of a few Tech 2000 wonderstocks; not a good sole justification to invest. I'm interested in how the mature VCTs will develop over the next 5 years or so. Some have a broad portfolio of systematically undervalued investments, free of CG and income tax and sitting at discounts of up to 20% to NAV. Massive spreads of course and desperately illiquid at present, but that's likely to change. SD lambandflag@hotmail.com
spin doctor
08/3/2001
12:13
Spindoctor, Lots of thoughts and some experience but tooooo late tonight to post. I'll post in a day or two. How about EIS; have you been there ?? tightfist
tightfist
07/3/2001
23:53
Excuse the new thread, but I can find nothing on this subject posted recently. Why the lack of interest? No-one got CGT to shelter?? Everyone think collective funds are for cissies? For me, a spread of VCTs provides a diversified tax-free portfolio, with the added bonus of 20% tax rebate up front that effectively covers the first 5 years charges (initial and recurring). VCTs vary in their focus - new/old economy, early stage / AIM, equity vs. loan etc. Performance bonuses leverage returns to the managers around 8% p.a. - that'd do me nicely as a long term tax free return in inflation-free times. There are stacks of open offers, several with little distinctive to offer. Websites with useful info. include www.bestvct.co.uk and www.allenbridge.co.uk My current preferences AIM : Artemis "Old economy", lower risk: Harvest Non-AIM specialist sector: Proven Media Non-AIM generalist: Close technology and General Remember these are long, long term holdings - 5 years minimum, maybe 10 to be sure. And they are perceived as high risk - certainly the individual investments within them are, but collectively they are a hell of a lot safer than some of the portfolios on this BB, I should think. Any thoughts? SD
spin doctor
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