More on Morgan Crucible
Morgan Crucible: H1 trading statement
Ceramics and carbon manufacturer Morgan Crucible continued its strong growth with like-for-like growth of approximately 7% at CER in the first half of the current year.
With operating margin strengthening further the company appears to be on track for another year of strong profit. growth. Although EPS growth is not likely to match last year’s 31%, it is likely to remain strong with the consensus estimate implying 11% growth.
At 239p Morgan Crucible is on a prospective PE of 16× with a 1% yield. It is expensive against the sector. Even taking the high growth into account it is not cheap with a PEG of 1.5.
Random picks: Berkeley | Body Shop | Bodycote | ITV | Matalan | Morrison | Standard Chartered | Viridian | Weir | Croda