LONDON (Alliance News) - Ceramic materials manufacturer Morgan Advanced Materials PLC on Friday said trading in the first quarter met its expectations and it affirmed its full-year outlook.
Morgan Advanced said trading conditions in the quarter to the end of March were in line with its forecasts and unchanged from its outlook when it published annual results in February. Sales in 2016 to date, on a constant currency basis, are broadly flat year-on-year, the company said.
Sales grew in its Thermal Products unit in the first quarter, driven by Asian and European growth and against a relatively soft comparative for the year before. This was offset by declines for the Carbon & Technical Ceramics division amid challenging end markets.
Morgan Advanced said its expectations for the first half of 2016 and the full year are unchanged.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Morgan Advanced Materials (MGAM)