- Morgan Advanced Materials said trading conditions in the period since the half year are in-line with management expectations and unchanged overall from the outlook in its July trading statement.

"Year-to-date sales, on a constant currency basis, were 1.9% lower for the Group than when compared to the first nine months of last year," the company said.

"Sales for the Thermal Products division were 0.3% lower than the prior year, with growth in Asia and Europe offset by a decline in the Americas.

"For the Carbon and Technical Ceramics division, sales were 3.6% lower than last year, with declines across all of the business units.

"Sales in Composites & Defence Systems were at a similar level to the prior year. For the group as a whole, the book to bill ratio for the first nine months was 1.00.

"Looking forward, our expectations for the full year remain unchanged."

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