H1 Trading Update

About this update from Morgan Advanced Materials Plc

    Press Release Morgan Advanced Materials plc 29 June 2023   H1 Trading Update Morgan 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 2023 Annual General Meeting being held today.   Current Trading Sales for the six months to June 2023 are expected to be around 2% higher on an organic constant-currency basis, compared to the same period last year.  Following a period in which the cyber incident disrupted trading in the first quarter, sales in the second quarter are expected to be around 9% higher than the second quarter of 2022.   Outlook There has been no change in the Board's expectations for the full year, with organic revenue growth expected to be 2-4%.   Pete Raby, Chief Executive Officer, said: "The business is well positioned.  Our planned investment in new capacity, products and technologies to support our Faster Growing Markets is continuing at pace and we are well placed to benefit from the substantial growth opportunities that these markets present".       For further enquiries: Pete Raby, CEO                                 Morgan Advanced Materials plc                                01753 837000 Richard Armitage, CFO Nina Coad                                           Brunswick                                                           0207 404 5959

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