November 21, 2017 / 7:35 AM / in a year

Johnson Matthey reports 2 pct fall in H1 operating profit

LONDON, Nov 21 (Reuters) - Johnson Matthey on Tuesday reported a 2 percent fall in first half operating profit, following one-off charges related to restructuring programme.

It reported a 15 percent rise in revenue and said sales growth at constant rates this year was still expected to be around 6 percent.

Earnings per share (EPS) fell 5 percent to 87.9 pence but the company raised its interim dividend by 6 percent to 21.75p.

Robert MacLeod, chief executive of the maker of automotive catalytic converters, which is expanding into battery minerals, said the results marked “a strong start to the year”.

“We are building a stronger platform from which we will achieve our goal of attractive returns to shareholders over the medium term: mid to high single digit EPS growth.” (Reporting by Barbara Lewis; editing by Jason Neely)

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