Morgan Advanced Materials Regulatory News (MGAM)

Press Release

Trading update

Morgan Advanced Materials plc

9 November 2018

Morgan Advanced Materials plc is trading is in-line with our expectations and our outlook for the full year is unchanged.

Sales for the ten months to October 2018 were 7.2% higher for the Group, on an organic constant-currency basis, compared to the first ten months of last year. For the four month period from July 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, the underlying organic constant-currency growth rate for the ten months to October was 5.4%. Group headline operating margins remain in line with those reported for the half year to 30 June 2018.

By business, the organic-constant currency trends for the ten months compared to prior year are as follows. Sales for the Thermal Products Division were 7.0% higher than the prior year, with growth in Asia. Within the Carbon & Technical Ceramics division, sales were 9.2% higher than prior year, with growth in Electrical Carbon, Seals & Bearings and Technical Ceramics.

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The next scheduled update is the Group's Preliminary Full Year results presentation on 26 February 2019.