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Prices & Quotes - UK Markets - Morgan Advanced Materials (MGAM)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 357.50p
Change Today:
3.00p
Market Cap:
1,020.20m
Sector:
Electronic & Electrical Equipment

Morgan Advanced Materials raises FY sales guidance

By Iain Gilbert

Date: Thursday 06 May 2021

LONDON (ShareCast) - (Sharecast News) - Manufacturing firm Morgan Advanced Materials said on Thursday that sales in the four months ended 31 March were up 2.5%, on an organic constant currency basis.

Morgan Advanced stated sales in its thermal products division were 3.7% higher year-on-year, with growth in molten metal systems and thermal ceramics, while carbon and technical ceramics division sales were 1.7% higher, with growth in electrical carbon and technical ceramics offsetting a decline in seals and bearings.

In terms of recent orders, Morgan Advanced added that it had seen "an improving performance" since the year-end, with an average daily order intake ahead of the same period in 2020.

As a result of the "good performance" seen so far this year and positive order trends, the FTSE 250-listed firm raised its guidance for organic constant currency sales growth to be in the range of 5-8% for the full year, assuming no significant Covid related operating restrictions.

Operating margins were also expected to improve, driven by volume leverage and benefits stemming from its restructuring programme.

Chief executive Pete Raby said: "We are pleased with the momentum and return to organic sales growth, driving an upgrade in our guidance for the full year. This, together with the benefits from our restructuring actions, is expected to deliver improved profitability for the year."

As of 0900 BST, Morgan Advanced shares were up 7.92% at 327.01p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

MGAM Market Data

Currency UK Pounds
Price 357.50p
Change Today 3.00p
52 Week High 359.00p
52 Week Low 210.00p
Volume 983,349
Shares Issued 285.37m
Market Cap 1,020.20m

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What The Brokers Say

Strong Buy 4
Buy 0
Neutral 4
Sell 0
Strong Sell 0
Total 8
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

MGAM Dividends

  Latest Previous
  Final Interim
Ex-Div 29-Apr-21 19-Nov-20
Paid 21-May-21 11-Dec-20
Amount 3.50p 2.00p

Trades for 11-Jun-2021

Time Volume / Share Price
16:37 250,000 @ 355.04p
16:36 250,000 @ 355.04p
16:35 50,000 @ 357.37p
16:35 30,792 @ 357.50p
16:35 149,525 @ 357.50p

MGAM Key Personnel

CEO Pete Raby
CFO Peter Turner