- Morgan Advanced Materials
- 14 October 2025 09:23:16
Source: Sharecast
The company said group sales for the first nine months of the year to 30 September were 3.6% lower than the same period last year, on an organic constant currency basis.
Third-quarter revenue was up 1.6% on the same period a year earlier, continuing to reflect signs of stabilisation in a number of its end markets, it said.
"Demand in Semiconductor markets has remained weak as a result of customer inventories, resulting in further orders being pushed into 2026 and lower than expected revenue in 2025," the company said. "We also note increasing uncertainty in European industrial markets."
As a result, Morgan Advanced now expects 2025 full-year sales to be around 4% lower than the prior year, on an organic constant currency basis.
In addition, it expects to deliver an adjusted operating profit margin of circa 10% for the year. This was put down to under-recovered costs from lower sales volumes in the short-term, a weaker mix and some FX impact.
"Whilst the markets remain challenging the group continues, as has been our regular practice, to focus on strong cost management and simplification of our business," it said.
At 0910 BST, the shares were down 6.2% at 205p.