StockMarketWire.com - Specialist product manufacturer Morgan Advanced Materials said its underlying sales and operating margins had moved up slightly in the first nine months of the year.

In a trading update for the nine months through September, the company said it was trading in line with management expectations and that its outlook for the full year remained unchanged.

Sales had grown 0.2% on an organic and constant currency basis.

'Consistent with the position reported at the half year, declines in the industrial and automotive market segments have been offset by growth in the semiconductor and electronics, healthcare and chemical and petrochemical segments,' Morgan Advanced Materials said.

'As previously guided, group headline operating margins are slightly ahead of the prior year driven by our efficiency actions.'

In the carbon a technical ceramics division, sales were 3.5% higher, with growth in seals and bearings and technical ceramics offsetting a modest decline in electrical carbon.

Sales for in the thermal products division fell 3.5%, predominately driven by a decline in Europe.




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