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Morgan Advanced Materials PLC - Windsor, England-based industrial products manufacturer - Reports sales growth of 11% for the first quarter of 2022, on an organic constant-currency basis, compared to the same period a year before. Says its Molten Metal Systems business grew the strongest with sales growth of 16% on the same basis, year-on-year. Says its performance supports its guidance of full-year organic revenue growth of between 4% to 7% for 2022. Expects to see a ‘moderation’ of growth rates as it progress through the year, due to challenges in the wider economy, such as inflation. Expects higher pricing and ‘continuous improvement’ to offset this.
Current stock price: 295.25 pence, up 8.0% on Thursday morning
12-month change: down 2.6%
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