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Morgan Advanced Materials reiterates FY26 guidance, CFO to retire
(Sharecast News) - Specialist manufacturer Morgan Advanced Materials said on Thursday that its first-quarter trading performance was in line with expectations, with the group delivering 6.2% organic constant‑currency revenue growth against a weak prior‑year comparator. The FTSE 250-listed firm also noted broadly stable order intake across its divisions and end‑markets throughout Q1.
Looking ahead, Morgan Advanced Materials kept its full‑year outlook unchanged and highlighted that it had not seen any "material direct or indirect" impact from the conflict in the Middle East and noted that it was continuing to use pricing to offset inflationary pressures. It added that it was continuing to monitor the situation should the disruption become more prolonged.
Chief executive Damien Caby said: "Our Q1 trading was in line with our expectations and today we reconfirm our full year guidance for 2026. We are making good progress against our strategic priorities, including the strategic review of Thermal Products, and continue to focus on executing at pace against the strategy set out at our December 2025 Capital Markets Day."
Separately, Morgan Advanced Materials revealed that chief financial officer Richard Armitage had informed the board of his intention to retire during the first half of 2027. Morgan Advanced Materials has already started a process to identify a successor.
As of 1015 BST, Morgan Advanced Materials shares were up 1.76% at 231.50p.
Reporting by Iain Gilbert at Sharecast.com
See latest RNS at Investegate
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