Full Year 2019 Victrex PLC Earnings Call Transcript
So good morning, everyone, and welcome to Victrex's Full Year Results Presentation for 2019. Myself, Richard and Martin, our Chief Commercial Officer, are here today to cover the results, I want to take the opportunity as well to thank Tim Cooper, formerly our Executive Director for Industrial, for his contribution to Victrex over the year. He retired in September. He is properly enjoying the mountains in Latin America these days but closely following Sheffield United at the same time. So all pressure around him.
Martin now oversees the 2 P&Ls of Industrial and Medical. And we'll answer questions in that capacity today.
[Ever so] briefly turning to the highlights. Sales volume for the year were 15% down. Broadly in line with expectations. We saw the run rate stabilizing in Q4. While Q4 was, I think, your comparative compared to last year. And we came out of Q3 through Q4 with a run rate of 3% in the positive.
But Q4, as I said, was still 5% down year-on-year. The year was a tale of 2 stories, if you wish. It's
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