Morgan Advanced Materials plc (MCRUF) Q2 2026 Earnings Call Transcript

Good morning, everyone. I'm Damien Caby, Chief Executive of Morgan Advanced Materials. And I'm joined on the call today by Richard Armitage, our CFO. I will start today with a summary of our half year results. Richard will then take you through the financial position, the outlook as well as the technical guidance. And I will then come back to share progress against the strategy that we have unveiled in December last year, and then we'll move on to Q&A. I am pleased to report that performance for the first 6 months of the year is in line with expectations. Revenue shows positive momentum and operating profit margin is improving sequentially. We're making clear progress against our strategy to unlock our potential by transforming our operational effectiveness and driving stronger and more profitable growth. Within our transform effectiveness strategic lever, we're progressing well on 2 large site turnarounds and on the delivery of benefits from our group procurement approach. In drive growth, we have established focused teams to accelerate in selected key markets, and we have already started to deliver wins from our enhanced OEM engagement strategy. In maximize portfolio, as previously announced, the