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Morgan Advanced Materials 10 month sales up 7.2%

Fri, 9th Nov 2018 07:14

(Sharecast News) - Morgan Advanced Materials said sales for the 10 months to October 2018 were up 7.2% on an organic constant-currency basis, adding that expectations for the full year remained unchanged.

For the quarter to October, organic constant-currency sales growth was 6.4% compared to the same period last year.

Excluding the benefit from the additional ceramic armour sales within the seals & bearings business unit, underlying organic constant-currency growth rate for the 10 months was 5.4%. Group headline operating margins remained in line with those reported for the half year to 30 June 2018, the company said.

Sales for the thermal products division were up 7%, with growth in Asia. The carbon & technical ceramics division saw sales rise 9.2%, with growth in electrical carbon, seals & bearings and technical ceramics.

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