Business
Full-Year Results
Full-Year Results.
About this update from Morgan Advanced Materials Plc
[{"type":"text","content":"\n \nRNS Number : 6080X Morgan Advanced Materials PLC 23 February 2017 \n \n\n \n \n \nFULL-YEAR RESULTS FOR THE PERIOD ENDED 31 DECEMBER 2016\n \n \n \nResults summary \n \n\n\n\n\n£ million unless otherwise stated\n \n\n\n2016\n\n\n2015\n\n\nChange\n%\n\n\nConstant Currency(1) Change\n%\n\n\n\n\nHeadline performance\nRevenue\n\n\n989.2\n\n\n911.8\n\n\n8.5%\n\n\n-1.5%\n\n\n\n\nGroup headline operating profit(1)\n\n\n116.9\n\n\n106.0\n\n\n10.3%\n\n\n-2.5%\n\n\n\n\nGroup headline operating profit margin(1)\n\n\n11.8%\n\n\n11.6%\n\n\n\n\n\n\n\n\n\n\nHeadline EPS (pence) (1)\n\n\n22.7p\n\n\n20.8p\n\n\n\n\n\n\n\n\n\n\nTotal dividend per share (pence)\n\n\n11.0p\n\n\n11.0p\n\n\n\n\n\n\n\n\n\n\nCash flow from operations(1)(2)\n\n\n128.3\n\n\n139.4\n\n\n\n\n\n\n\n\n\n\nFree cash flow before acquisitions and dividends(1)(2)\n\n\n48.0\n\n\n30.1\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nStatutory reporting\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nOperating profit\n\n\n107.3\n\n\n82.9\n\n\n\n\n\n\n\n\n\n\nProfit before tax\n\n\n87.9\n\n\n59.0\n\n\n\n\n\n\n\n\n\n\nBasic EPS (pence)\n\n\n18.4p\n\n\n11.9p\n\n\n\n\n\n\n\n\n\n\n \n1. Further information on the use of these non-GAAP measures is provided on page 9.\n2. 2015 has been re-presented for the reclassification of £3.8 million of dividends paid to non-controlling interests from 'Cash flow from operations' to 'Net cash flows from other investing and financing activities'.\n \n \nGroup highlights \n \n· Financial performance is in line with management expectations, despite trading conditions remaining challenging in the second half of the year, with the full year book-to-bill ratio at 0.99 times (2015: 0.99 times).\n· Strategy implementation on track - two divestments recently announced, which will simplify the Electrical Carbon and Technical Ceramics global business units, with an aggregate gross consideration of ca. £80 million.\n· Good progress in improving operational execution, which is providing the funds for increased investment in research and development.\n· Group headline operating profit margin* improved to 11.8% (2015: 11.6%). \n \n· Headline EPS* increased to 22.7 pence (2015: 20.8 pence). Proposed final div...