Morgan Advanced Materials PLC Trading Update (8457G)

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RNS Number : 8457G

Morgan Advanced Materials PLC

09 November 2018

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.

For further enquiries:

 
                 Morgan Advanced Materials 
 Pete Raby        plc                         01753 837 000 
 Peter Turner 
 
 
   Alison Lea    Brunswick                      0207 404 5959 
 

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

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November 09, 2018 02:00 ET (07:00 GMT)