UK's Morgan Advanced Materials tumbles on weak profit forecast
07/08/2025 08:49
Aug 7 (Reuters) - Shares of Morgan Advanced Materials MGAMM.L tumbled as much as 25% on Thursday after the British company said it expects annual profit to be around the lower end of the consensus range, compounded by persisting headwinds in the semiconductor industry. The chip parts supplier now expects its annual adjusted operating profit to fall at the lower end of the company-compiled consensus range of 115.6 million pounds ($154.62 million) to 126.3 million pounds. ($1 = 0.7481 pounds) (Reporting by Nithyashree R B in Bengaluru) ((NithyashreeRB@thomsonreuters.com;))