REG - Morgan Adv Mat PLC - Trading Update

Morgan Advanced MaterialsAnnouncement

06/05/2021 07:00

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:
 




Pete Raby


Morgan Advanced Materials 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
 
LEI: I4K14LL95N2PHDL7EG85

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