Morgan Advanced Materials

Balance Sheet Half Year 2024

For half year ended 30 June 2024

As at 31 December 2023

		As at 30 June 2024	As at 30 June 2023	As at 31 December 2023
	Note	£m	£m
Assets
Property, plant and equipment	8	311.6	275.6	293.8
Right-of-use assets		33.0	31.7	31.6
Intangible assets: goodwill	9	177.2	177.3	177.5
Intangible assets: other	9	3.8	4.6	4.7
Investments		1.0	-	2.2
Other receivables		2.0	3.0	3.4
Deferred tax assets		17.2	14.5	17.6
Total non-current assets		545.8	506.7	530.8
Inventories		182.2	181.4	175.1
Derivative financial assets	11	0.3	0.8	1.5
Trade and other receivables		208.2	227.7	191.6
Current tax receivable		1.3	0.5	1.2
Cash and cash equivalents	10	116.6	137.5	124.5
Total current assets		508.6	547.9	493.9
Total assets		1,054.4	1.054.6	1,024.7
Liabilities
Borrowings	10	337.3	305.9	309.1
Lease liabilities		39.3	38.0	36.6
Employee benefits: pensions	12	18.0	19.2	25.2
Provisions	13	10.5	9.5	11.5
Non-trade payables		2.4	1.8	2.4
Deferred tax liabilities		2.4	2.8	1.8
Total non-current liabilities		409.9	377.2	386.6
Borrowings and bank overdrafts	10	1.6	40.1	0.6
Lease liabilities		8.9	11.2	10.5
Trade and other payables		187.2	192.2	192.0
Current tax payable		24.7	22.2	25.6
Provisions	13	9.0	13.7	10.3
Derivative financial liabilities	11	0.8	0.6	0.5
Total current liabilities		232.2	280.0	239.5
Total liabilities		642.1	657.2	626.1
Total net assets		412.3	397.4	398.6
Equity
Share capital		71.3	71.3	71.3
Share premium		111.7	111.7	111.7
Reserves		0.5	11.4	6.5
Retained earnings		191.2	163.2	170.8
Total equity attributable to shareholders of the Company		374.7	357.6	360.3
Non-controlling interests		37.6	39.8	38.3
Total equity		412.3	397.4	398.6

See our full Financial Highlights to learn more, or view our Cash Flow and Income Statement to see our latest performance.