Morgan Crucible warns on profits
Industrial materials provider Morgan Crucible has delivered a profits warning as trading conditions have deteriorated across most geographies, particularly in Europe and China.
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."
The slowdown in demand has been most pronounced in the Advanced Materials and Technology business, the group said, in an interim management statement covering trading since the beginninf of July. The Ceramics division and Molten Metal Systems, which comprise over 70% of the company, have been more resilient, with margins remaining in its target mid-teen range.
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
The FTSE-250 constituent maintained that "cash generation is robust and the expected net debt to EBITDA [earnings before interest, tax, depreciation and amortisation] ratio for 2012 year remains low at 1.2 to 1.3 times."
CM
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Michelin Key Hotels 2025: the top destinations in the world
The Michelin Keys have been awarded to spectacular hotels across the world. From Marlon Brando's private resort in Polynesia to a Bvlgari hotel in Tokyo, we look at some of the most extraordinary stays in 2025
-
MoneyWeek news quiz: How much could you get in car finance compensation?
The car finance scandal, inheritance tax, and house prices all made headlines over the past few days. Test your knowledge while reviewing this week’s top stories with MoneyWeek’s news quiz