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Annual Results

Morgan Advanced Materials advances FY pretax profit

23 February 2017 07:49

Morgan Advanced Materials has advanced its FY pretax profit to £87.9m after an in-line performance with challenging H2 trading, from £59.0m, but held its total dividend steady at 11p a share.

"Looking forward to 2017, we are expecting the challenging market conditions to continue and we have planned prudently as a result,," said CEO Pete Raby in a statement.

"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."

Story provided by StockMarketWire.com

Related Company: MGAM

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