TIDMMGAM

RNS Number : 2973E

Morgan Advanced Materials PLC

29 June 2023

Press Release

Morgan Advanced Materials plc

29 June 2023

H1 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 2023 Annual General Meeting being held today.

Current Trading

Sales for the six months to June 2023 are expected to be around 2% higher on an organic constant-currency basis, compared to the same period last year. Following a period in which the cyber incident disrupted trading in the first quarter, sales in the second quarter are expected to be around 9% higher than the second quarter of 2022.

Outlook

There has been no change in the Board's expectations for the full year, with organic revenue growth expected to be 2-4%.

Pete Raby, Chief Executive Officer, said:

"The business is well positioned. Our planned investment in new capacity, 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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

TSTZZGZVNRKGFZM

(END) Dow Jones Newswires

June 29, 2023 02:00 ET (06:00 GMT)

Morgan Advanced Materials (LSE:MGAM)
Gráfica de Acción Histórica
De Nov 2024 a Dic 2024 Haga Click aquí para más Gráficas Morgan Advanced Materials.
Morgan Advanced Materials (LSE:MGAM)
Gráfica de Acción Histórica
De Dic 2023 a Dic 2024 Haga Click aquí para más Gráficas Morgan Advanced Materials.