Half Year 2019 Victrex PLC Earnings Call Transcript
So good morning, everyone, and welcome to Victrex's half-year results for 2019. Welcome to those that are listening on the phone as well. I'm joined by a full executive team today. Richard, Tim and Martin will be involved during the presentation and will obviously be all available for Q&A towards the end.
I think the key message today is not a surprise. We did have a softer first half, as expected. We faced a number of short-term headwinds. We're focused on improvement in the second half year, even if demand recovery will be at a bit slower rate than anticipated when we spoke together the last time. We expect improvement to be gradual and probably more back end weighted.
And consequently it will be a challenge for us to deliver a year-on-year growth in the second half, although the medium-term story remains attractive and the key value drivers that are underpinning our value proposition are unchanged.
Despite weaker trading we delivered progress on our mega programs, so our investment case remains strong. Growth is obviously
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