MORGAN CRUCIBLE SAYS PROSPECTS ARE ENCOURAGING
  Morgan Crucible Co Plc <MGCR.L> said the
  prospects for 1987 were encouraging, with orders and sales
  significantly up on last year in all divisions.
      It said there were good opportunities for growth in both
  existing and recently acquired businesses as well as for growth
  by acquisition in related areas.
      It earlier announced a 6.1 mln stg rise in pre-tax profit
  to 24.8 mln stg for the year to December 28. Turnover rose to
  242.1 mln from 211.5 mln.
      Most of its companies performed well despite a slowdown in
  the U.S., U.K. And Australian economies in the first half.
      Currency fluctuations reduced pretax profit by around one
  mln stg, it noted.
      Morgan said although profits in the electronics sector
  improved to 1.0 mln stg from 100,000 stg previously, results
  were nonetheless disappointing.
      Sales were lower than expected, due mainly to delayed
  defence orders and cancellations. However, it said it had taken
  the necessary remedial action, obtained new business and was
  now proceeding with the delivery of major delayed orders.
      Morgan shares firmed two pence to 318p at 0905 GMT from
  316p at Friday's close.