Morgan Advanced Materials Q1 sales in line with guidance

10th May 2019 07:27

(Sharecast News) - Morgan Advanced Materials said first quarter trading was in line with expectations as the company maintained its full year guidance.Sales for the three months to March were 2% higher year on year for the specialist materials maker on an organic constant-currency basis.Headline operating margins were slightly ahead of the prior year, seeing benefit from the leverage of organic growth and from efficiency actions, the company said in an update.Carbon & technical ceramics sales were 7% higher than prior year, with growth in electrical carbon, seals & bearings and technical ceramics. Sales for the thermal products division were 3% lower with a decline in Europe partially offset by growth in Asia.