Morgan Crucible Becomes Becomes Morgan Advanced Materials
The Morgan Crucible Co. Plc recently announced it has changed its name to Morgan Advanced Materials plc. The new name reportedly better reflects the full depth and breadth of the company’s materials science and application engineering capabilities.
The company’s recently released full year results for the period ended December 31, 2012, show that group EBITA margin was 12.1%, down from 13% last year, and the company’s underlying operating profit margin was 10.8%, compared to 12.9% in 2011.
The Ceramics Division EBITA margin continued to improve in 2012 to 14.3%, vs. 13.5% in 2011. Revenue in the Morgan Ceramics Division was £660.5 million (~ $999.9 million), compared to £685.2 million (~ $1,037 million) in 2011, a decrease of 3.6%. Revenue for the Technical Ceramics Business in 2012 was £273.3 million (~ $413.7 million), down 4% compared to £285.1 million (~ $431.6 million) in 2011.
The Thermal Ceramics Business revenue decreased by 3.2% to £387.2 million (~ $586.1 million) in 2012, vs. £400.1 million (~ $605.6 million) in 2011. On a constant currency basis, the year-on-year decrease was 0.4%. The Engineered Materials Division revenue for the year was down 15.2% on a constant currency basis, with EBITA margins declining to 9.4%, compared to 13.4% in 2011.
For additional information, visit www.morganadvancedmaterials.com.