February 25, 2020 / 7:42 AM / a month ago

Morgan Advanced Materials sees profit hit from coronavirus outbreak

Feb 25 (Reuters) - Industrial materials maker Morgan Advanced Materials has closed its manufacturing facilities in China because of the coronavirus outbreak and expects a hit to 2020 revenue and headline operating profit as a result, the company said on Tuesday.

The British company, which generates around 10% of its revenue from China, said the outbreak will take around 3.5 million pounds ($4.5 million) off its headline operating profit and about 7 million pounds off its revenue in 2020. ($1 = 0.7714 pounds) (Reporting by Tanishaa Nadkar in Bengaluru; Editing by Maju Samuel)

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