No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Morgan Advanced Materials surged on Thursday as it said full-year adjusted operating profit was set to be around the upper end of the range of analysts' expectations as it posted a rise in sales and highlighted buyer interest in its thermal products division.
In the nine months to September end, group sales grew 4.9% on the same period a year earlier, on an organic constant currency basis, and excluding the £8.9m phasing benefit from a Semiconductor take-or-pay contract.
Morgan Advanced said strong growth has continued in strategic areas including aerospace and energy, while industrial end-markets have proved resilient.
"As a consequence of our strategic progress, operational improvements and continued momentum, we now expect adjusted operating profit for 2026 to be around the upper end of the range of analysts' expectations," it said.
The group had already announced that it was undertaking a strategic review of its thermal products division, which includes a potential disposal. It said on Thursday that interest in the business has been shown by a number of potential buyers.
"Whilst no decision has been made regarding a disposal, following a period of preparation, the group is now starting to engage formally with potential buyers. Further updates will be provided in due course, as appropriate," it said.
At 0925 GMT, the shares were up 8.3% at 280.50p.
Morgan Advanced develops high-performance ceramics, thermal, and carbon solutions that help customers solve complex engineering challenges.
See latest RNS on Sharecast
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.