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Trading Update of Morgan Advanced Materials

Year-to-date sales, on a constant currency basis, were 0,8 % lower for Morgan Advanced Materials PLC compared to the 1st 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 previously announced divestments of the Rotary Transfer Systems and UK electroceramics businesses have now completed.

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