Business
AGM Trading Update
AGM Trading Update.
About this update from Morgan Advanced Materials Plc
[{"type":"text","content":"\n\nPress Release\nMorgan Advanced Materials plc\n8 May 2025\n \nAGM Trading Update\nMorgan Advanced Materials plc, the global manufacturer of advanced carbon and ceramic materials for complex and technologically demanding applications, announces a trading update in advance of its 2025 Annual General Meeting being held later today.\n \nCurrent Trading\nAs expected, sales for the first three months of the year to 31 March 2025 were 3.5% lower for the Group on an organic constant currency basis, compared to the same period last year.\n \nOutlook\nWe continue to monitor and adapt our business to the recent introduction of new trade tariffs. With our predominantly localised manufacturing footprint the unmitigated direct impact of current tariffs is expected to be relatively small. We expect to be able to mitigate much of this such that we do not expect a material net impact for the full year, albeit that any broader economic impact remains uncertain.\nOur simplification programme remains on track to deliver £16m of incremental savings in 2025. It will lead to a leaner manufacturing footprint, whilst retaining the benefit of localisation, positioning us well to benefit from margin expansion as markets recover.\nThe interim results for the six months ending 30 June 2025 are due for release on Thursday 7 August 2025.\n \nPete Raby, Chief Executive Officer, said:\n\"Whilst the global economy is facing uncertainty in the short term, we remain confident in our strategy, and in the longer-term outlook for our products. Our decentralised organisation, cost management and strong balance sheet will provide us with the flexibility to navigate through this difficult period and deliver earnings growth with improving demand.\"\n \nFor further enquiries:\n\n\n\n\nPete Raby, CEO\nRichard Armitage, CFO\n\n\nMorgan Advanced Materials plc\n\n\n01753 837000\n\n\n\n\nNina Coad\n\n\nBrunswick \n\n\n0207 404 5959\n\n\n\n\n \n ...