Morgan Advanced Materials trading in line, reaffirms outlook

Morgan Advanced Materials said on Monday that it is trading in line with its expectations as it reaffirmed its outlook for the full year.

In the ten months to October 2017, the company said sales were up 1% on an organic constant currency basis, compared to the first ten months of last year. Meanwhile, for the period from July to October, organic constant currency sales growth improved to 2.3%, compared to the same period last year, thanks to an acceleration in the growth rate in the carbon and technical ceramics division since the half year.

Sales in the thermal products division were 2.1% lower in the 10-month period on a constant currency basis than the prior year, with declines in Europe and North America. In the carbon and technical ceramics division, sales were 5.6% higher than last year, with growth in electrical carbon, seals & bearings and technical ceramics.