Morgan Crucible ups dividend as revenues increase

INDUSTRIAL materials group Morgan Crucible yesterday upped its interim dividend by 20 per cent, as revenues at the company rose to £560m.

Underlying operating profit at the group increased by 49 per cent to £71.5m, from £48m last year, as revenues jumped 11 per cent from £501.1m.

Morgan Crucible said it was entering the second half of 2011 with good trading momentum across divisions, and across all its end markets.

It also announced a 20.4 per cent increase in its interim dividend, from 2.70p per share in 2010 to 3.25p per share.