REG - Morgan Adv.Materials - Q1 trading update

Morgan Advanced MaterialsAnnouncement

05/05/2022 07:00

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RNS Number : 3724K  Morgan Advanced Materials PLC  05 May 2022

 

 

Press Release

Morgan Advanced Materials plc

5 May 2022

 

 

Q1 trading update

 

Current trading

 

Sales for the first three months of the year to March 2022 were 10.9% higher
for the Group, on an organic constant-currency basis, compared to the same
period last year.

 

By business unit, organic constant-currency sales performance for the three
months to March 2022 compared to the same period last year were as follows:

 

 Thermal Ceramics      +8.8%
 Molten Metal Systems  +16.1%
 Electrical Carbon     +12.8%
 Seals and Bearings    +6.6%
 Technical Ceramics    +14.0%
 Group                 +10.9%

 

 

Outlook

 

We have seen a strong start to the year, supporting our guidance for full year
organic revenue growth of 4-7% in 2022.  We expect a moderation of growth
rates as we progress through the year, reflecting challenges in the wider
economy.

 

We will see higher inflation in 2022 and expect higher pricing and continuous
improvement to offset this. We expect our margins to expand further reflecting
the drop-through on our organic growth and the remaining full-year benefits
from our restructuring programme.

 

 

Pete Raby, Chief Executive Officer, said:

 

 "With our continuing investments in new products and new technologies, we
plan to increase further our exposure to our faster growing segments (clean
energy, clean transportation, semiconductors and healthcare), and to continue
to win in our core markets."

 

 

For further enquiries:

 

 Pete Raby     Morgan Advanced Materials plc  01753 837 000
 Peter Turner

 Nina Coad     Brunswick                      0207 404 5959

 

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