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Morgan Advanced Materials sales jump on strong demand for its body armour

The FTSE 250 group, which makes everything from body armour to seals and bearings, saw sales climb 7.2% in the ten months to the end of October
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The company used to be known as Morgan Crucible

Sales at Morgan Advanced Materials plc (LON:MGAM) have jumped so far this year, leaving the ceramics and carbon products maker on track to meet its full-year targets.

The FTSE 250 group, which makes everything from body armour to seals and bearings, saw sales climb 7.2% in the ten months to the end of October.

READ: Morgan coming to the boil, says Berenberg

Continued strong demand for its ceramic armour products was yet again a key driver of growth, but even excluding this, underlying sales were still up 5.4%.

Morgan’s thermal products and carbon and technical ceramics divisions were the other stand-out performers, with sales rising 7.0% and 9.2% year-on-year respectively.

Operating margins remained “in-line” with the 11.8% figure Morgan reported in its half-year results back in July.

Shares were down 0.8% to 273p shortly after the opening bell having initially opened higher.

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Morgan Advanced Materials plc Timeline

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