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Morgan Advanced Materials pretax profit up 5 pct
July 23, 2014 / 6:25 AM / 3 years ago

Morgan Advanced Materials pretax profit up 5 pct

July 23 (Reuters) - British manufacturer Morgan Advanced Materials Plc reported a 5 percent rise in pretax profit as a restructuring of its businesses helped it improve margins amid tough market conditions.

The company, which makes carbon and ceramic based high-temperature insulation products used in medical instruments, aerospace, power generation and fire protection systems, said revenue fell 8 percent to 448.4 million pounds ($765.3 million).

The FTSE-250 company said it would pay an interim dividend of 3.9 pence per share compared with 3.8 pence last year. ($1 = 0.5859 British Pounds) (Reporting by Aashika Jain and Abhiram Nandakumar in Bangalore; Editing by Gopakumar Warrier)

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