Industrial materials provider Morgan Crucible has delivered a profits warning as trading conditions have deteriorated across most geographies, particularly in Europe and China.
Mark Robertshaw, Chief Executive Officer, commented: "With a weaker market environment group performance for the full year is likely to be materially below the board's previous expectations. We are taking firm action to reduce our cost base to protect profitability and are reviewing further structural actions. In line with our strategy the group continues to invest for the future both in new product development and capital expenditure in higher margin business areas."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Thousands of Brits switch to Nationwide, Monzo and HSBC – which banks are least popular?As current account bank switches reach a record high, we look at the most and least popular banks and building societies among Brits. Is it worth switching?
-
Are these FTSE 100 pharmaceutical stocks worth a look?Pharmaceutical stocks are some of the biggest in the FTSE 100. The sector is threatened by tariffs, but some have posted encouraging results regardless.
