Morgan Advanced Materials plc reported consolidated earnings results for the six months ended June 30, 2018. For the period, the company reported revenue of £521.8 million as compared to £518.8 million for the same period last year. Profit from operations before restructuring costs and other items and amortisation of intangible assets was £61.5 million as compared to £61.2 million for the same period last year. Profit from operations before amortisation of intangible assets was £53.9 million as compared to £107.3 million for the same period last year. Operating profit was £50.1 million as compared to £103.7 million for the same period last year. Profit before taxation was £43.9 million as compared to £91.9 million for the same period last year. Profit for the period attributable to the company shareholders was £25.9 million as compared to £47.4 million for the same period last year. Diluted earnings per share from continuing operations was 9.0 pence as compared to 26.8 pence for the same period last year. Net cash from operating activities was £41.4 million as compared to £29.8 million for the same period last year. Purchase of property, plant and equipment was £23.1 million as compared to £15.1 million for the same period last year.

The company expects headline effective tax rate to continue to be around 28% for 2018. The company expectations for the full-year are now slightly higher than previously anticipated.