Highlights:
• Strong core business growth in H1
- Total sales volumes up 5%
- Core volumes up 19%, offsetting lower year on year Consumer Electronics
- Group revenue up 12%, constant currency revenue up 4%
- Record core volumes in Q2 of >1000 tonnes, driven by Automotive, Electronics (ex-Consumer), Value Added Resellers
- Medical remains muted, reflecting mature US Spine market
• Further pipeline progress
- New Gears mega-programme secures initial OEM production opportunity for 2018
- PEEK-OPTIMATM HA-Enhanced on track for FY17 meaningful revenue
• Investment to accelerate Polymer & Parts strategy
- £10m acquisition of Zyex PEEK fibres business to expand semi-finished products offering
- TxV Aero Composites joint-venture to support differentiated Aerospace products
- Polymer Innovation Centre on track for completion in H2; support prototyping & new grades
• Strong cash generation continues
- Cash up 90% to £86m and operating cash conversion 137%
- Interim dividend up 4% to 12.20p (H1 16: 11.73p)
