Morgan Advanced Materials

Balance Sheet Half Year 2023

For half year ended 30 June 2023

		At 30 June 2023	At 30 June 2022	At 31 December 2022
	Note	£m	£m	£m
Assets
Property, plant and equipment	8	275.6	268.1	283.2
Right-of-use assets		31.7	33.2	33.6
Intangible assets: goodwill	9	177.3	181.2	181.9
Intangible assets: other	9	4.6	8.9	7.1
Other receivables		3.0	4.5	3.2
Deferred tax assets		14.5	14.9	15.3
Total non-current assets		506.7	510.8	524.3
Inventories		181.4	169.0	174.2
Derivative financial assets	11	0.8	0.4	1.3
Trade and other receivables		227.7	195.2	202.5
Current tax receivable		0.5	0.6	0.3
Cash and cash equivalents	10	137.5	121.6	117.7
Total current assets		547.9	486.8	496.0
Total assets		1.054.6	997.6	1,020.3
Liabilities
Borrowings	10	305.9	187.1	230.1
Lease liabilities		38.0	42.2	41.4
Employee benefits: pensions	12	19.2	73.5	15.6
Provisions	13	9.5	17.4	16.1
Non-trade payables		1.8	2.3	2.1
Deferred tax liabilities		2.8	1.1	2.0
Total non-current liabilities		377.2	323.6	307.3
Borrowings and bank overdrafts	10	40.1	10.8	36.1
Lease liabilities		11.2	10.0	10.5
Trade and other payables		192.2	186.2	195.0
Current tax payable		22.2	29.6	30.3
Provisions	13	13.7	13.0	9.9
Derivative financial liabilities	11	0.6	1.7	1.6
Total current liabilities		280.0	251.3	283.4
Total liabilities		657.2	574.9	590.7
Total net assets		397.4	422.7	429.6
Equity
Share capital		71.3	71.3	71.3
Share premium		111.7	111.7	111.7
Reserves		11.4	37.7	35.1
Retained earnings		163.2	157.9	170.9
Total equity attributable to shareholders of the Company		357.6	378.6	389.0
Non-controlling interests		39.8	44.1	40.6
Total equity		397.4	422.7	429.6

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