Morgan Advanced Materials ( (GB:MGAM) ) has issued an announcement.
Morgan Advanced Materials reported a slight decline in revenue for 2024, but achieved a 3.7% organic constant-currency growth, driven by a 7.6% increase in faster-growing markets. The company has accelerated its simplification program, expecting annual savings of £27 million by 2026, and aims to return to a 12.5% operating profit margin in 2025. Despite challenges in the semiconductor market due to slower growth in electric vehicles, Morgan remains confident in the sector’s long-term potential and has adjusted its investment strategy accordingly. The company maintains a strong balance sheet and continues to focus on strategic initiatives to enhance efficiency and market positioning.
More about Morgan Advanced Materials
Morgan Advanced Materials operates in the advanced materials industry, focusing on the production of high-performance materials and components. The company serves various sectors, including aerospace, healthcare, clean energy, and semiconductors, with a strategic emphasis on expanding its presence in faster-growing markets.
YTD Price Performance: -3.31%
Average Trading Volume: 840,839
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £740.2M
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