Windsor’s Morgan Advanced Materials boosts profits 60 per cent
Berkshire-based manufacturer Morgan Advanced Materials has posted strong half-year results for the period ended 30 June 2024.
The firm saw revenues rise 8.2 per cent on a constant currency basis to £572.6 million, while adjusted operating profits now sit at £71.3 million – up 60 per cent from the first half of 2023.
It expects similar revenues from the coming six months, with overall full-year revenue growth between 4 and 7 per cent.
“We’re continuing to implement our strategy successfully,” said CEO Pete Raby.
“While our constant currency revenue growth benefitted from the weaker, cyber-impacted prior year comparator, we’ve seen underlying revenue growth in both our core and faster growing markets.
“Our investment in semiconductor capacity, where we continue to see strong demand and have attractive growth opportunities, along with our simplification programme, are both on-track. Our balance sheet remains strong.
“I want to thank all our employees for their commitment and support.”
Headquartered in Windsor, Morgan Advanced Materials also operates sites in Warwickshire and Worcestershire.
