Reuters logo
BUZZ-Johnson Matthey falls after H1 results
November 21, 2017 / 11:23 AM / 24 days ago

BUZZ-Johnson Matthey falls after H1 results

** Johnson Matthey, a leader in catalysts for car emission control devices, slips 2.5 pct after first-half operating profit falls

** Full-year sales are still expected to grow around 6 pct

** Chief Financial Officer Anna Manz said the impact on profits of a one-off charge following a company restructuring had been exaggerated by a credit related to U.S. pension costs in the previous year, adding the co was on track

** JP Morgan (“neutral”) says there are “some structural concerns” on the long-term prospects in the auto emissions control business related to an ongoing decline in the share in diesel cars in Europe

** But, if Johnson Matthey succeeds in its plans to develop battery materials for electric vehicles, this could offset any negative long-term earnings impact

** Citi said the results were in line. It rates the stock a “buy,” saying the shares are “materially undervalued”

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below