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Johnson Matthey expects a stronger second half

The company holds its AGM in London later this morning.2
underside of a car, exhaust
Full year guidance is maintained

Johnson Matthey Plc (LON:JMAT) told investors that it expects a stronger second-half performance, reflecting normal seasonality.

In a statement ahead of today’s AGM, the company said it anticipates growth in its operating performance will be in line with the medium-term guidance - for ‘mid-to-high single digit growth’.

READ: Liberum reckons the downgrades are over at Johnson Matthey

“In the first quarter, we delivered sales growth in line with our expectations, led by our Clean Air Sector and with growth in Efficient Natural Resources and New Markets, while sales in Health were broadly stable,” the company said.

“Our full year guidance for the group at constant rates is unchanged.”

Johnson Matthey added that cash generation and working capital remain a key focus, and it said that working capital “will be significantly higher” at the half year.

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