Morgan Advanced Materials

Income Statement Full Year 2023

For the year ended 31 December 2023

    Year ended 31 December 2023 Year ended 31 December 2022
    Results before specific adjusting items Specific adjusting items Total Results before specific adjusting items Specific adjusting items Total
  Note £m £m £m £m £m £m
Revenue 3 1,114.7 - 1,114.7 1,112.1 - 1,112.1
Operating costs before amortisation of intangible assets, impairments and reversal of impairments of non-financial assets   (994.4) (25.9) (1,020.3) (961.1) 1.0 (960.1)

Profit from operations before amortisation of intangible assets, impairments and reversal of impairments of non-financial assets

3

120.3

(25.9)

94.4

151.0

1.0

152.0

Amortisation of intangible assets

 

(3.3)

-

(3.3)

(4.7)

-

(4.7)

Impairment of non-financial assets

4

-

(7.3)

(7.3)

-

(6.5)

(6.5)

Reversal of impairment of non-financial assets

4

-

8.1

8.1

-

-

-

Operating profit

3

117.0

(25.1)

91.9

146.3

(5.5)

140.8

Finance income   3.9 - 3.9 1.6 - 1.6
Finance expense   (18.0) - (18.0) (10.8) - (10.8)
Net financing costs 5 (14.1) - (14.1) (9.2) - (9.2)
Profit before taxation   102.9 (25.1) 77.8 137.1 (5.5) 131.6
Income tax expense 6 (26.0) 3.8 (22.2) (37.1) 1.1 (36.0)
Profit from continuing operations   76.9 (21.3) 55.6 100.0 (4.4) 95.6
Profit from discontinued operations2 7 - 0.7 0.7 - 1.1 1.1
Profit for the year
  76.9 (20.6) 56.3 100.0 (3.3) 96.7

Profit for the period attributable to:

Shareholders of the Company

  67.9 (20.6) 47.3 91.3 (3.3) 88.0
Non-controlling interests   9.0 - 9.0 8.7 -

8.7

Profit for the year
  76.9 (20.6) 56.3 100.0 (3.3) 96.7

Earnings per share

Continuing and discontinued operations

8            
Basic earnings per share       16.6p     31.0p
Diluted earnings per share       16.5p     30.7p
Continuing operations              
Basic earnings per share       16.4p     30.6p
Diluted earnings per share       16.3p     30.3p
Dividends3              

Interim dividend

- pence

      5.30p     5.30p
- £m       15.1     15.1

Proposed final dividend

- pence

      6.70p     6.70p
- £m       19.1     19.1

 

1. Details of specific adjusting items from continuing operations are given in note 4 to the consolidated financial statements.

2. Profits from discontinued operations are entirely attributable to the Shareholders of the Company.

3. The proposed final dividend is based upon the number of Ordinary shares outstanding at the balance sheet date.

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