Last checked at 10 May 2019 07:00
Press Release
Trading update
Morgan Advanced Materials plc
10 May 2019
Morgan Advanced Materials plc is trading in-line with management expectations and our outlook for the full year remains unchanged.
Sales for the three months to March 2019 were 2% higher for the Group, on an organic constant-currency basis, compared to the first three months of last year. As guided at the 2018 full year results, Group headline operating margins are slightly ahead of the prior year, seeing benefit from the leverage of organic growth and from efficiency actions.
By business, the organic-constant currency trends for the three months compared to prior year are as follows. Within the Carbon & Technical Ceramics division, sales were 7% higher than prior year, with growth in Electrical Carbon, Seals & Bearings and Technical Ceramics. Sales for the Thermal Products division were 3% lower than the prior year, with a decline in Europe partially offset by growth in Asia.
For further enquiries:
Pete Raby | Morgan Advanced Materials plc | 01753 837 000 |
Peter Turner | ||
Alison Lea
|
Brunswick |
0207 404 5959 |
The next scheduled update is the Group's interim results presentation on 25 July 2019.