Morgan Advanced Materials PLC (MGAM.L), a maker of specialist products, on Tuesday reported a 1.6% increase in its third-quarter revenue, reflecting the signs of stabilization in the end markets.
The company also noted that the demand in semiconductor markets has remained weak as a result of customer inventories, which is expected to result in lower than expected revenue for 2025.
Looking ahead, Morgan Advanced Materials, said: "We now expect 2025 full year sales to be c.4% lower than the prior year, on an organic constant currency basis. With under-recovered costs from lower sales volumes in the short-term, a weaker mix and some FX impact, we now expect to deliver an adjusted operating profit margin of c.10% for the year."
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