Morgan Advanced Materials PLC (LSE:MGAM)
£ 2.68 -0.005 (-0.19%) Market Cap: 758.60 Mil Enterprise Value: 1.07 Bil PE Ratio: 10.97 PB Ratio: 2.02 GF Score: 73/100
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Half Year 2024 Morgan Advanced Materials PLC Earnings Call Transcript

Aug 06, 2024 / 09:00AM GMT
Release Date Price: £3.1 (-1.90%)
Pete Raby
Morgan Advanced Materials PLC - Chief Executive Officer, Executive Director

Good morning, everyone. I'm Pete Raby, the Chief Executive of Morgan Advanced Materials. And I'm joined on the call by Richard Armitage, our CFO. Welcome to our interim results call for 2024. I will start with a summary of the results. Richard will then take you through the financial position, and I will then cover the segmental drivers, nonfinancial metrics and the outlook.

Starting with the summary. In the first half of 2024, we delivered organic revenue growth of 8.2%, supported by 15% growth in our faster-growing segments and 6% growth in the core. Our operating profit margin was 12.5%, in line with our financial framework with pricing and efficiency improvement continuing to more than offset inflation.

Earnings per share of 14.7p is 48% up on the prior year, largely reflecting the weaker comparative period in H1 2023 when we were impacted by the cyber incident, together with some underlying growth. Our capital investment program is progressing well as we invest in capacity for growth in our

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