If only…
Victrex (LSE: VCT) manufactures high-performance plastics. Its shares rose in September as the group announced that its effective tax rate would fall from 21% to 12% with immediate effect. The firm also announced that it had appointed Jakob Sigurdsson as chief executive, replacing David Hummel who is retiring after 24 years in the role. In February Victrex reported that revenues had grown 41% to £78.7m between October and December, albeit compared with a weaker spell a year ago. Meanwhile, sales volumes during the quarter rose by 30% on the same period last year.
Be glad you didn’t buy…
Pennon Group (LSE: PNN) is a water utility and waste-management firm. Its shares have plunged roughly 30% in the past year as investors have become concerned about the sustainability of its 6.8% dividend yield. The threat of nationalisation under a future Labour government and the regulator’s aim to force water firms to invest more has added uncertainty. In March, Pennon said that its Glasgow energy-recovery facility is likely to cost £95m more than the planned £155m. Despite this, performance for the year to the end of March was in line with expectations.