Business
Half-year results
Half-year results.
About this update from Morgan Advanced Materials Plc
[{"type":"text","content":"\n\n \n\n \nHalf-year results for the period ended 30 June 2024\n \n \n \n\n\n\n\n£ million\nunless otherwise stated\n \n\n\n1H\n2024\n\n\n1H\n2023\n\n\nAs reported\nchange\n\n\nOrganic\nconstant- currency1 change\n\n\n\n\nAdjusted results\nRevenue\n\n\n572.6\n\n\n553.9\n\n\n3.4%\n\n\n8.2%\n\n\n\n\nGroup adjusted operating profit1\n\n\n71.3\n\n\n50.0\n\n\n42.6%\n\n\n59.5%\n\n\n\n\nGroup adjusted operating profit margin1\n\n\n12.5%\n\n\n9.0%\n\n\n350bps\n\n\n\n\n\n\n\nReturn on invested capital1\n\n\n19.7%\n\n\n18.7%\n\n\n100bps\n\n\n\n\n\n\n\nAdjusted EPS1\n\n\n14.7p\n\n\n9.9p\n\n\n48.5%\n\n\n\n\n\n\n\nFree cash flow before acquisitions, disposals and dividends1\n\n\n(7.9)\n\n\n(37.1)\n\n\n78.7%\n\n\n\n\n\n\n\nNet debt (incl. lease liabilities)1\n\n\n270.5\n\n\n257.7\n\n\n5.0%\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 results\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\nRevenue\n\n\n572.6\n\n\n553.9\n\n\n\n\n\n\n\n\n\n\nOperating profit\n\n\n66.8\n\n\n34.5\n\n\n32.3\n\n\n\n\n\n\n\nProfit before taxation\n\n\n57.5\n\n\n28.4\n\n\n29.1\n\n\n\n\n\n\n\nContinuing EPS\n\n\n13.2p\n\n\n5.2p\n\n\n8.0p\n\n\n\n\n\n\n\nCash generated from continuing operations\n\n\n66.1\n\n\n12.9\n\n\n53.2\n\n\n\n\n\n\n\nInterim dividend per share\n\n\n5.4p\n\n\n5.3p\n\n\n 0.1p \n\n\n\n\n\n\n\n1. Definitions of these non-GAAP measures can be found in the glossary of terms on page 43, reconciliations of the statutory results to the adjusted measures can be found on pages 16 to 20. Throughout this report these non-GAAP measures are clearly identified by an asterisk (*) where they appear in text and by a footnote where they appear in tables.\n \nGroup highlights\n\n\n\n\n· \n\n\nOrganic constant-currency* revenue growth of 8.2%, with 14.9% from our faster growing markets\n\n\n\n\n· \n\n\nGroup adjusted operating profit margin* of 12.5%, in line with our financial framework. Pricing measures continue to more than offset inflation\n\n\n\n\n· \n\n\nAdjusted EPS* at 14.7p has grown +48.5% versus 1H 2023\n\n\n\n\n· \n\n\nCapital investment programme progressing well\n\n\n\n\n· \n\n\nReturn on invested capital* 19.7% for 1H, at the higher end o...