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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Morgan Advanced Materials Plc | LSE:MGAM | London | Ordinary Share | GB0006027295 | ORD 25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-2.00 | -0.69% | 287.50 | 287.00 | 288.00 | 288.50 | 284.50 | 285.00 | 807,551 | 16:35:10 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Carbon And Graphite Products | 1.12B | 47.3M | 0.1663 | 17.32 | 819.36M |
TIDMMGAM
RNS Number : 6932X
Morgan Advanced Materials PLC
06 May 2021
Press Release
Morgan Advanced Materials plc
06 May 2021
Trading update
Current trading
Sales for the first four months of the year to April 2021 were 2.5% higher for the Group, on an organic constant currency basis, compared to the same period last year.
By business, the organic constant currency trends for the four months to April 2021 compared to the same period last year were as follows:
- Thermal Products division sales were 3.7% higher, with growth in Molten Metal Systems and Thermal Ceramics.
- Carbon & Technical Ceramics division sales were 1.7% higher, with growth in Electrical Carbon and Technical Ceramics offsetting a decline in Seals & Bearings.
With respect to orders, we have seen an improving performance since the position reported at the year end, with average daily order intake ahead of the same period in 2020.
Outlook
With the good performance seen so far this year and positive order trends, we are raising our guidance for the Group's organic constant currency sales growth to be in the range of 5 to 8% for the full year, assuming no significant Covid related operating restrictions. Operating margins are expected to improve driven by volume leverage and the benefit of our restructuring programme announced last year.
Pete Raby, Chief Executive Officer, said:
"We are pleased with the momentum and return to organic sales growth, driving an upgrade in our guidance for the full year. This, together with the benefits from our restructuring actions, is expected to deliver improved profitability for the year."
For further enquiries:
Morgan Advanced Materials Pete Raby plc 01753 837 000 Peter Turner Nina Coad Brunswick 0207 404 5959
This announcement contains inside information. The person responsible for the release of this announcement on behalf of Morgan Advanced Materials plc is Peter Turner, Chief Financial Officer
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May 06, 2021 02:00 ET (06:00 GMT)
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