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Morgan Advanced Materials outlines plans for above-average growth

Thu 04 Dec 2025 10:09

(Sharecast News) - Ceramics, fire protection and carbon technology firm Morgan Advanced Materials on Thursday laid out plans for above-market organic revenue growth, including improving efficiency and "maximising" the value of its portfolio. As part of the company's strategy update, MGAM said it would pause its £40m share buyback programme at £20m "as part of our focus on balance sheet resilience".

"Morgan is an exciting innovative company with distinctive capabilities and competitive advantages that give us a decisive right to win across our diverse markets. However, we have not been delivering to our ambition or to our full potential," said chief executive Damien Caby. "Much of this value can be achieved through more rigorous customer focus and portfolio management."

MGAM said it would transform its operational effectiveness to turnaround underperforming sites and improve its supply chain effectiveness. Its plans also include maximising the company's portfolio through partnerships, divestments and bolt-on M&A.

The company's updated financial framework includes targets for organic revenue growth in excess of GDP growth, and earnings per share growth ahead of organic revenue growth.

MGAM is also targeting an adjusted operating profit margin of 12% by 2028 and between 12% and 14% beyond 2028, up from 11.1% over the first half of 2025.

MGAM shares were up 0.7% at 208p by 1007 GMT.

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