LONDON (ShareCast) - The full-year results from industrial materials maker Morgan Crucible were received well on Wednesday, helping to push the electronic and electrical equipment sector higher.

Morgan Crucible saw record revenues and operating profit in 2011, with the group making rapid progress towards the attainment of the goals of its three-year plan announced a year ago.

Revenue rose 8.2% to £1,101.0m in 2011 from £1,017.1m in 2010, bang in line with market expectations. Underlying profit before tax rose 58.1% to £119.7m from £75.7m in 2010, and ahead of the market consensus of £116.6m. Shares were up 9.05% at 356.6p.

The company operates in the electronics market as well as petrochemical and industrial, transportation, security and defence and healthcare sectors. In electronics, the firm’s applications range from energy harvesting to semiconductor manufacturing and consumer electronics.

Sector peers Elektron Technology, TT electronics and RCG Holdings were also making decent gains today.

Meanwhile, the pharmaceuticals and biotechnology sector was the worst performing sector today with its two largest constituents AstraZeneca and GlaxoSmithKline registering losses on the FTSE 100 after going ex-dividend.

BC

Top performing sectors so far today
Electronic & Electrical Equipment 3,300.10 +2.19%
Personal Goods 22,423.89 +2.02%
Banks 4,019.08 +1.98%
Industrial Engineering 7,678.52 +1.64%
Software & Computer Services 799.79 +1.11%

Bottom performing sectors so far today
Pharmaceuticals & Biotechnology 9,830.87 -2.04%
Food Producers & Processors 5,500.23 -0.86%
Mining 22,344.54 -0.81%
Oil & Gas Producers 8,800.29 -0.81%
Real Estate Investment Trusts 1,896.80 -0.44%

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