Morgan Advanced Materials plc (LON:MGAM) said Friday that its outlook for the full year remains unchanged, with trading in line with management expectations.
in a brief trading update, the FTSE 250-listed global manufacturer of specialist products noted that sales for the nine months to September were 0.2% higher compared to the same period last year, as declines in the industrial and automotive segment were offset by growth in the semiconductor and electronics, healthcare and chemical and petrochemical segments.
In the carbon & technical ceramics division sales were up 3.5%, while thermal products dipped 3.5% due to a decline in Europe, the group added.
It also said group headline operating margins are set to be “slightly ahead” of last year following plans to increase efficiency.
In early morning trade, shares in Morgan Advanced Materials shed 0.8% at 259p.