Trading Update

RNS Number : 6862N

Morgan Advanced Materials PLC

20 May 2015

 



Press Release

Trading Update 

Morgan Advanced Materials plc

20^th May 2015

Morgan Advanced Materials plc, the advanced materials company, is today issuing the following trading update covering the first four months of 2015.

As expected and as set out in the outlook in our February announcement, trading conditions in the first four months of the year continued to be mixed and, as a result, our trading expectations for the full year remain unchanged.

Year-to-date revenue on a like-for-like basis, adjusting for acquisitions and disposals and at constant currency, was 1.9% higher compared to the first four months of 2014. The year-to-datebook to bill ratio at the end of April was 1.07 and the outstanding order book was c.8% higher than at the same time last year at constant currency.

All regions, North America, Europe and Asia/Rest of World, contributed to the revenue growth relative to the 2014 comparative period.  Asia has shown the largest improvement, with South East Asia and Korea producing good growth, though the region's overall performance has been impacted by weaker markets in China.  North America has benefited from increased revenue from the Thermal business and an improvement in the Certech ceramic cores business that has more than offset some weakness in other parts of Technical Ceramics.  In Europe, Thermal Ceramics has been the main driver of growth, with other businesses showing some softness in the first four months of 2015. 

The Group maintains a strong balance sheet, leaving it well placed to continue to invest in organic profitable growth opportunities and to pursue attractive bolt-on acquisitions in complementary technologies and applications.

Financial position

There were no significant events or transactions during the period which resulted in a material impact on the financial position of the Group.

For further enquiries:

Kevin Dangerfield	Morgan Advanced Materials plc	01753 837000
Mike Smith/Nina Coad	Brunswick	0207 404 5959

The Group's next communication will be at the Half Year results presentation on 22^nd July 2015.

 

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