Morgan Advanced Materials (MGAM)

Sector:

Electronic and Electrical Equipment

Index:

FTSE 250

241.50p
   
  • Change Today:
    -5.50p
  • 52 Week High: 341.50
  • 52 Week Low: 221.50
  • Currency: UK Pounds
  • Shares Issued: 285.37m
  • Volume: 1,807,158
  • Market Cap: £689.17m

Morgan Advanced Materials revenue rises as it remains on track with operational strategy

By Maryam Cockar

Date: Thursday 23 Feb 2017

LONDON (ShareCast) - (ShareCast News) - Morgan Advanced Materials' revenue for 2016 rose despite "challenging" trading conditions in the second half of the year as it remains on track with its operational strategy.
The FTSE 250 manufacturer of carbon and ceramics products said that the implementation of its strategy is on track as it recently announced two sales which will simplify its electrical carbon and technical ceramics business units, for about £80m.

It said that its financial performance is in line with expectations, despite trading conditions remaining challenging in the second half of the year, with a full-year book-to-bill ratio unchanged from last year at 0.99 times.

Revenue for 2016 rose 8.5% to £989.2m, compared to last year, but fell 1.5% on a constant currency basis.

This resulted in a 10.3% rise in operating profit to £116.9m, but was down 2.5% at constant currency.

The operating profit margin improved to 11.8% from 11.6% and pre-tax profit rose to £87.9m from £59m.

Cash flow from operations fell to £128.3m from £139.4m.

Earnings per share increased to 22.7p from 20.8p and the company proposed a final dividend of 7p, which would result in a full-year dividend of 11p, unchanged from last year.

Chief executive Pete Raby said: "We are making good progress with the implementation of our strategy and have delivered a solid set of results in a difficult market.

"Looking forward to 2017, we are expecting the challenging market conditions to continue and we have planned prudently as a result. However, we are making operational improvements across our business as part of our strategy execution and this is creating the funds to increase research and development, strengthen our selling capability and add business development resources, all aimed at supporting future growth in key business areas."

Shares in Morgan Advanced Materials were up 5.48% to 315p at 0900 GMT.

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MGAM Market Data

Currency UK Pounds
Share Price 241.50p
Change Today -5.50p
% Change -2.23 %
52 Week High 341.50
52 Week Low 221.50
Volume 1,807,158
Shares Issued 285.37m
Market Cap £689.17m

MGAM Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
88.18% above the market average88.18% above the market average88.18% above the market average88.18% above the market average88.18% above the market average
94.29% above the sector average94.29% above the sector average94.29% above the sector average94.29% above the sector average94.29% above the sector average
Price Trend
27.26% below the market average27.26% below the market average27.26% below the market average27.26% below the market average27.26% below the market average
18.92% above the sector average18.92% above the sector average18.92% above the sector average18.92% above the sector average18.92% above the sector average
Income
75.10% above the market average75.10% above the market average75.10% above the market average75.10% above the market average75.10% above the market average
87.50% above the sector average87.50% above the sector average87.50% above the sector average87.50% above the sector average87.50% above the sector average
Growth
77.46% below the market average77.46% below the market average77.46% below the market average77.46% below the market average77.46% below the market average
81.82% below the sector average81.82% below the sector average81.82% below the sector average81.82% below the sector average81.82% below the sector average

What The Brokers Say

Strong Buy 4
Buy 3
Neutral 3
Sell 0
Strong Sell 0
Total 10
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

MGAM Dividends

  Latest Previous
  Interim Final
Ex-Div 24-Oct-24 25-Apr-24
Paid 15-Nov-24 17-May-24
Amount 5.40p 6.70p

Trades for 31-Oct-2024

Time Volume / Share Price
15:59 200,000 @ 240.00p
16:40 150,000 @ 241.50p
16:35 150,000 @ 241.50p
16:35 100,000 @ 241.50p
16:35 465,301 @ 241.50p

MGAM Key Personnel

CEO Pete Raby
CFO Richard Armitage

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