StockMarketWire.com - Morgan Advanced Materials said trading conditions in the period since the full year are in line with management expectations, noting sales so far this year are down.

"Year-to-date sales, on a constant currency basis, were 0.8% lower for the group compared to the first quarter of last year," it said.

Sales for the Thermal Products division were 2.8% lower than the prior year, with falls in Europe and North America.

Within the Carbon and Technical Ceramics division, sales were 1.5% higher than last year, driven by growth in Seals & Bearings and Technical Ceramics, partially offset by a decline in Electrical Carbon.

Sales in Composites & Defence Systems were lower than prior year.

"The book to bill ratio for the Group in the first quarter was slightly ahead of the equivalent period last year. Looking forward, our management expectations for the half and full year remain unchanged."






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