Morgan Advanced Materials Plc has resolved to pay an interim dividend of 5.3 pence per ordinary share. The interim dividend will be paid on 18 November 2022 to Ordinary shareholders on the register of members at the close of trading on 28 October 2022. The ex-dividend date will be 27 October 2022. This compares to an interim dividend paid in the fourth quarter of 2021 of 3.2 pence per Ordinary share.
Other Financial Highlights:
Organic constant-currency revenue growth of 11.2% with 15% from faster growing markets (excluding one-off solar projects) and 11% from core markets.
• Adjusted operating profit margin of 13.7%, up by 90 bps, reflecting the drop through on organic growth and the benefits from Morgan Advanced Materials Plc's restructuring programme.
• Pricing and continuous improvement efficiencies continue to more than offset inflation.
• Strong sales and profit growth drives a material improvement in return on invested capital* to 22.2%, up 680 bps on 1H 2021.
• Adjusted earnings per share of 15.9p, up 25.2% on 1H 2021.
• Positive cash generated from continuing operations at £45.2m, free cash flow of £(1.0) million and net debt/EBITDA (excluding lease liabilities) of 0.5 times.
• Absolute CO2e emissions (from scope 1 and 2) reduced by 11% compared with 1H 2021.
• Full year outlook around top end of current analysts' forecasts.