Morgan Advanced Materials Plc (MGAM.L), on Thursday, reported half-year results for the period ended 30 June 2025, reflecting a challenging market environment.
Adjusted revenue declined by 8.7% year-over-year to GBP522.6 million, compared to GBP572.6 million in H1 2024, with an organic constant currency decline of 5.8%. On a statutory basis, revenue also declined 8.7% to GBP522.6 million.
Group adjusted operating profit fell 18.7% to GBP58.0 million, down from GBP71.3 million, resulting in a 140 basis points contraction in adjusted operating margin to 11.1%.
Operating profit fell 38.3% to GBP41.2 million, and profit before taxation dropped 47.1% to GBP30.4 million. Adjusted earnings per share dropped 26.5% to 10.8 pence from 14.7 pence last year, and continuing earnings per share decreased to 5.3 pence from 13.2 pence prior year.
Net debt excluding lease liabilities rose 12.1% to GBP249.1 million. Cash generated from continuing operations rose 4.8% to GBP69.3 million, and the interim dividend was maintained at 5.4 pence per share.
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