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Johnson Matthey Share Discussion Threads
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|Deutsche Bank Johnson Matthey PLC 03/06/2016
3,400.00 3,450.00 2,995.00
|Strewth - taking off now.|
|A £141m impairment and restructuring charge hit pre-tax profits at chemicals and sustainable technology group Johnson Matthey, which fell to £386.3m from £495m in a "difficult macroeconomic environment".
Pre-tax profits also include the benefit of the £130m profit on the sale of Research Chemicals. Revenue were up 6% at constant exchange rates to £10.7bn. Basic earnings per share were 166.2p.
The board is recommending a 5% increase in the total dividend for the year, reflecting its confidence in the group's long term performance. This comprises a final dividend of 52.0p, making a total of 71.5p.
The company added that If current exchange rates are maintained throughout 2016/17, foreign currency translation will have a positive impact of approximately £15m on underlying operating profit, primarily due to sterling's weakness against the US dollar and the euro.
"The structural drivers for the group's technologies remain robust despite the challenging macroeconomic conditions which are expected to continue in 2016/17. Increased investment in R&D and capex, together with the restructuring actions taken in 2015/16, provide strong foundations for future growth," the company said.
"In 2016/17 the group will benefit from progress in fine chemicals and new businesses. Emission control technologies' performance for the year as a whole is expected to be slightly ahead and, whilst market conditions in process technologies remain challenging, its performance should improve as a result of the reduced cost base."
"At current platinum group metal prices, performance in precious metal products is expected to be slightly lower. Overall, at current exchange rates, we expect the group's performance in 2016/17 to be ahead of 2015/16, in line with current market expectations."
The company said its emissions control technologies unit had another strong year, benefiting from the full implementation of Euro 6b legislation in Europe and light duty vehicle market growth in Asia and North America, although the reduction in demand for Class 8 trucks in our second half impacted heavy duty diesel catalyst sales in North America.
Process technologies had a challenging year with the slowdown in activity in the chemicals sector and the sustained low oil price impacting the division's performance.
In precious metal products, conditions were also been difficult due to the lower average platinum group metal prices which were around 25% down on last year.
"In fine chemicals, there was steady demand in active pharmaceutical ingredient manufacturing and good progress in catalysis and chiral technologies. However, the division's performance was held back as a result of a safety shutdown in the US following a fatal accident in the first half. New businesses made good progress with strong sales growth in battery materials and a positive contribution from atmosphere control technologies," Johnson Matthey|
|Market likes the 'matches our expectations.|
|Macroeconomic factors, particularly the low oil price, economic slowdown in China and lower pgm prices, meant that our markets in Process Technologies and Precious Metal Products remained challenging in the third quarter and we expect these to continue for the remainder of the financial year. However, the group expects to deliver a strong final quarter, in line with our normal seasonality and benefiting from the previously announced restructuring actions. Underlying performance for the continuing businesses(2) in the second half is currently anticipated to be slightly ahead of the first half. The full year outlook for the group is in line with current market expectations|
|Because the share has changed and your slack broker isn't up to speed with this. As a result of the 17 for 18 consolidation the nominal value and ISIN number of JMAT have changed.|
|why is this shown as 0.00 GBP in my dealing account, and saying this instrument cannot be traded?|
|I'd say so. From RNS of 25 Nov:
"Existing Ordinary Shares marked ex-entitlement to the Special Dividend - 11th January 2016"|
|If I buy this stock before the 11th Jan do I receive the special dividend of 150p/share ? ...I'm sure I do, but just wanna check|
|I am thinking of buying some of these. Is it the right time to buy, I wonder, and if so will the share price drop by almost £1.70 on the ex dates in January|
|I just bought into this elite club at 2,715|
|JOHNSON MATTHEY PLC
EX-DIVIDEND DATES AND RECORD DATE
Following yesterday's announcement relating to the publication of a circular
(the "Circular") which sets out details of a proposed Special Dividend and
associated Share Consolidation and which convenes a general meeting for
Wednesday 16th December 2015 at 11.00 am, for ease of reference Johnson Matthey
Plc sets out below the ex-dividend and record dates which will apply to the
forthcoming Interim Dividend and, subject to shareholder approval, the Special
Dividend, as stated in the Circular:
* Existing Ordinary Shares marked ex-entitlement to the Interim Dividend -
7th January 2016
* Record date for entitlement to the Interim Dividend, the Special Dividend
and for the Share Consolidation - 6.00 pm on 8th January 2016
* Existing Ordinary Shares marked ex-entitlement to the Special Dividend -
11th January 2016|
|free stock charts from uk.advfn.com|
|I bought this share on 3rd November as a steady eddie share.
Been more like a rollercoaster so far.
But not complaining now.|
|Continuing the rebound on that strong statement - but still some way to go imo.|
|Johnson Matthey surged to the top of the FTSE 100 after the specialty chemicals firm declared a special dividend as it posted a rise in first half revenue. Underlying revenue was up 20% on the same period last year to £5.76bn and the company declared an interim dividend of 19.5p per share, up 5%, as well as a special dividend of 150p per share following the £305m sale of its research chemicals business and gold and silver refineries|
|Crikey. Vertigo territory.
Actually, it has a lot of catching up to do.|
|Steady sailing was the theme for Johnson Matthey on Thursday morning, as it released its half-year results to 30 September 2015.
Underlying revenue at the specialty chemicals firm was up 20% on the previous period, to £5.755bn, with sales up 5% to £1.588bn.
The company's underlying profit before tax, however, was down 4% to £2.083bn.
In its report, Johnson Matthey pointed to strong growth in its emission control technologies business, but tough conditions in process technologies and precious metal products.
The company's platinum group metal business was especially impacted as a result of a more than 20% decline in average platinum prices.
Chief exective Robert MacLeod remained optimistic.
"Despite the current environment of low platinum group metal and oil prices, and the more muted outlook in the chemicals markets that we supply, we expect the underlying performance of the group's continuing businesses4 in 2015/16 to be similar to 2014/15", he said.
"The full year outlook for the group is in line with current market expectations."
Johnson Matthey said it will work to shore up its struggling businesses through a cost reduction programme, and indicated an anticipated £30m cost saving by the end of the fourth quarter.
"Johnson Matthey remains well placed to benefit from major global sustainability drivers such as the continued drive to improve air quality, energy security, urbanisation and the increasing need for healthcare", MacLeod said.
"The restructuring actions we are taking in the second half will benefit the group's results towards the end of our financial year and this, together with attractive key end markets, position the group to return to growth in 2016/17."
Investors will be looking forward to an interim dividend of 19.5p per share, up 5%, as well as a special dividend of 150p per share following the £305m sale of its research chemicals business and gold and silver refineries|
|Ex Div tomorrow, so we'll see a drop of 50p on the open|
|Solid business. Oodles of value beyond its keynote sectors. This is a British BASF/Du Pont. Long term holding. Expecting circa 10-15% in the near term.
|I like it too.|