Morgan Advanced Materials
Income Statement Full Year 2024
For the year ended 31 December 2024
| Year ended 31 December 2024 | Year ended 31 December 2023 | ||||||
| Results before specific adjusting items | Specific adjusting items1 | Total | Results before specific adjusting items | Specific adjusting items1 | Total | ||
| Note | £m | £m | £m | £m | £m | £m | |
| Revenue | 3 | 1,100.7 | - | 1,100.7 | 1,114.7 | - | 1,114.7 |
| Operating costs before amortisation of intangible assets, impairments and reversal of impairments of non-financial assets | (972.3) | (18.9) | (991.2) | (994.4) | (25.9) | (1,020.3) | |
|
Profit from operations before amortisation of intangible assets, impairments and reversal of impairments of non-financial assets |
3 | 128.4 | (18.9) | 109.5 | 120.3 | (25.9) | 94.4 |
|
Amortisation of intangible assets |
|
(1.7) |
- |
(1.7) |
(3.3) |
- |
(3.3) |
|
Impairment of non-financial assets |
4 |
- |
(4.2) |
(4.2) |
- |
(7.3) |
(7.3) |
|
Reversal of impairment of non-financial assets |
4 |
- |
- |
- |
- |
8.1 |
8.1 |
|
Operating profit |
3 |
126.7 |
(23.1) |
103.6 |
117.0 |
(25.1) |
91.9 |
| Finance income | 2.6 | - | 2.6 | 3.9 | - | 3.9 | |
| Finance expense | (21.6) | - | (21.6) | (18.0) | - | (18.0) | |
| Net financing costs | 5 | (19.0) | - | (19.0) | (14.1) | - | (14.1) |
| Profit before taxation | 107.7 | (23.1) | 84.6 | 102.9 | (25.1) | 77.8 | |
| Income tax expense | 6 | (28.4) | 2.5 | (25.9) | (26.0) | 3.8 | (22.2) |
| Profit from continuing operations | 79.3 | (20.6) | 58.7 | 76.9 | (21.3) | 55.6 | |
| Profit from discontinued operations2 | 7 | - | 0.1 | 0.1 | - | 0.7 | 0.7 |
| Profit for the year |
79.3 | (20.5) | 58.8 | 76.9 | (20.6) | 56.3 | |
|
Profit for the period attributable to: Shareholders of the Company |
70.8 | (20.5) | 50.3 | 67.9 | (20.6) | 47.3 | |
| Non-controlling interests | 8.5 | - | 8.5 | 9.0 | - | 9.0 | |
| Profit for the year |
79.3 | (20.5) | 58.8 | 76.9 | (20.6) | 56.3 | |
|
Earnings per share Continuing and discontinued operations |
8 | ||||||
| Basic earnings per share | 17.7p | 16.6p | |||||
| Diluted earnings per share | 17.5p | 16.5p | |||||
| Continuing operations | |||||||
| Basic earnings per share | 17.7p | 16.4p | |||||
| Diluted earnings per share | 17.5p | 16.3p | |||||
| Dividends3 | |||||||
|
Interim dividend - pence |
5.4p | 5.3p | |||||
| - £m | 15.4 | 15.1 | |||||
|
Proposed final dividend - pence |
6.8p | 6.7p | |||||
| - £m | 19.3 | 19.1 | |||||
1. Details of specific adjusting items from continuing operations are given in note 4 to the condensed 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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