Morgan Advanced Materials PLC Trading Statement (2624E)
05 May 2017 - 4:01PM
UK Regulatory
TIDMMGAM
RNS Number : 2624E
Morgan Advanced Materials PLC
05 May 2017
Press Release
Trading update
Morgan Advanced Materials plc
5 May 2017
Morgan Advanced Materials plc is today issuing the following
trading update.
Trading conditions in the period since the full year are in line
with management expectations.
Year-to-date sales, on a constant currency basis, were 0.8%
lower for the Group compared to the first quarter of last year.
Sales for the Thermal Products division were 2.8% lower than the
prior year, with declines in Europe and North America. Within the
Carbon and Technical Ceramics division, sales were 1.5% higher than
last year, driven by growth in Seals & Bearings and Technical
Ceramics, partially offset by a decline in Electrical Carbon. Sales
in Composites & Defence Systems were lower than prior year.
The book to bill ratio for the Group in the first quarter was
slightly ahead of the equivalent period last year. Looking forward,
our management expectations for the half and full year remain
unchanged.
Financial position
The previously announced divestments of the Rotary Transfer
Systems and UK electro-ceramics businesses have now completed.
There have been no other significant events or transactions
during the period from 31 December 2016 to 4 May 2017 which have
resulted in a material impact on the financial position of the
Group.
For further enquiries:
Morgan Advanced
Pete Raby Materials plc 01753 837 000
Peter Turner
Mike Smith
Alison Kay Brunswick 0207 404 5959
The next scheduled update is the Group's Half Year results
presentation on 28 July 2017.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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