Johnson Matthey (JM) yesterday released preliminary results for the year ended 31st March 2018. The company says the results reflect a year of significant progress against its strategy, with performance in line with expectations.
 
Robert MacLeod, Chief Executive, commented: “We had a good year. We have made significant progress in executing our strategy and delivered a financial performance in line with our expectations at the start of the year. Clean Air had another strong year, delivering strong top and bottom line growth. We improved the quality of our Efficient Natural Resources business and in Health we continued to progress our substantial API pipeline and are better positioned as we optimise our manufacturing footprint. The further development of eLNOTM, our next generation battery material, was a highlight of the year and I am excited about the speed of progress we are making and the plans we have to commercialise this product.”

He continued, “We have taken significant steps in running our businesses more effectively, delivering cost savings and becoming more agile and responsive to our customers. Our strong balance sheet continues to give us the flexibility to invest in our business, to maintain and extend our science and technology leadership supported by an optimised manufacturing footprint.  We are proposing an increase in the final dividend of 7%, reflecting our confidence in the prospects of Johnson Matthey.”

In the coming year, JM expects mid to high single digit growth in operating performance.

MacLeod added, “The changes the we are making as we continue to develop our business give me confidence in our strategy to deliver, over the medium term, mid to high single digit EPS CAGR, expanding ROIC to 20% and, as a result, a progressive dividend.”

Further information can be found at  www.matthey.com