REG - Morgan Adv.Materials - Q1 Trading Update

Morgan Advanced MaterialsAnnouncement

09/05/2024 07:00

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RNS Number : 7009N  Morgan Advanced Materials PLC  09 May 2024

Press Release

Morgan Advanced Materials plc

9 May 2024

 

Q1 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 2024 Annual General Meeting being
held today.

 

Current Trading

Sales for the first three months of the year to 31 March 2024 were 12.0%
higher for the Group on an organic constant currency basis, compared to the
same period last year which had been impacted by the cyber incident.

 

Outlook

Whilst weaker economic conditions have continued as expected, our outlook for
full-year constant currency revenue growth remains unchanged.  There has been
no change in the Board's expectations for full year performance, with a slight
weighting to our second half as expected, as additional capacity from recent
investment comes on line.

 

Pete Raby, Chief Executive Officer, said:

"The business is well positioned with leading market positions, and performing
solidly.  Our investment in new capacity, highly differentiated products and
technologies to support our Faster Growing Markets is continuing at pace and
we are well placed to benefit from the substantial growth opportunities that
these markets present".

 

 

 

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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