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Morgan Advanced MaterialsAnnouncement

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RNS Number : 7803H  Morgan Advanced Materials PLC  08 May 2025

Press Release

Morgan Advanced Materials plc

8 May 2025

 

AGM Trading Update

Morgan Advanced Materials plc, the global manufacturer of advanced carbon and
ceramic materials for complex and technologically demanding applications,
announces a trading update in advance of its 2025 Annual General Meeting being
held later today.

 

Current Trading

As expected, sales for the first three months of the year to 31 March 2025
were 3.5% lower for the Group on an organic constant currency basis, compared
to the same period last year.

 

Outlook

We continue to monitor and adapt our business to the recent introduction of
new trade tariffs. With our predominantly localised manufacturing footprint
the unmitigated direct impact of current tariffs is expected to be relatively
small. We expect to be able to mitigate much of this such that we do not
expect a material net impact for the full year, albeit that any broader
economic impact remains uncertain.

Our simplification programme remains on track to deliver £16m of incremental
savings in 2025. It will lead to a leaner manufacturing footprint, whilst
retaining the benefit of localisation, positioning us well to benefit from
margin expansion as markets recover.

The interim results for the six months ending 30 June 2025 are due for release
on Thursday 7 August 2025.

 

Pete Raby, Chief Executive Officer, said:

"Whilst the global economy is facing uncertainty in the short term, we remain
confident in our strategy, and in the longer-term outlook for our products.
Our decentralised organisation, cost management and strong balance sheet will
provide us with the flexibility to navigate through this difficult period and
deliver earnings growth with improving demand."

 

For further enquiries:

 Pete Raby, CEO          Morgan Advanced Materials plc  01753 837000

 Richard Armitage, CFO
 Nina Coad               Brunswick                      0207 404 5959

 
 

 
 
 

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