Business
Trading update and strategic review of Health
Trading update and strategic review of Health.
About this update from Johnson Matthey Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7478U\n Johnson Matthey PLC\n 08 April 2021\n \n \n \n \n Pre-close trading update and strategic review of Health business\n \n \n \n \n \n \n Johnson Matthey releases a pre-close trading update for the financial year ended 31st March 2021, ahead of its full year results scheduled for 27th May 2021. \n \n \n \n \n \n \n \n \n \n \n Robert MacLeod, Chief Executive commented:\n \n \n \n \n \n In what has been an extraordinary year, I would like to thank all of our employees for their dedication and efforts throughout this time. I am very pleased with the progress we made, particularly in the second half. As a result, group operating performance for the year is expected to be around the top end of market expectations, alongside continued strong management of working capital. In the year, we continued to execute our growth strategy at pace. We are driving cashflow from our more established businesses to invest in our suite of exciting sustainable technologies that will enable decarbonisation and enhance circularity, including our portfolio of eLNO battery materials and hydrogen technologies. We have commenced a strategic review of Health, as we continue to focus resources to maximise value for our shareholders. As the world builds back greener following the pandemic, we have an important role to play in helping society address climate change through our sustainable technologies, and we remain focused on commercialising these and delivering our growth ambitions.\n \n \n \n \n \n \n \n \n \n \n Update for the year ended 31st March 2021\n \n \n \n \n \n In 2020/21, group operating performance is expected to be around the top end of market expectations¹,². Following the disruption from COVID-19 earlier in the year, our second half was materially stronger. This reflected increased activity in autos and other key end markets, and the actions taken to transform our business including tight cost management. Our strong operational performance has enabled us to continue to invest at pace into our strategic growth projects. \n \n \n \n \n \n \n \n \n \n \n Strategic review of Health business\n \n \n \n \n \n We continue to review our portfolio to focus on areas of greatest opportunity to maximise value for our shareholders. As part of that ongoing process, we are undertaking a strategic review o...