Johnson Matthey H1 Underlying Operating Profit Declines; Revenue Down 14%

Johnson Matthey PLC (JMAT.L) reported first half underlying operating profit of 222 million pounds, down 30%, reflecting supply chain constraints in Clean Air, lower average PGM prices and a lag in recovering cost inflation. Underlying earnings per share was 88.2 pence, down 25% due to lower underlying operating profit.

Profit before tax from continuing operations was 188 million pounds compared to a loss of 4 million pounds, prior year. Profit per share from continuing operations was 81.7 pence compared to a loss of 12.4 pence.

Revenue declined to 7.33 billion pounds from 8.50 billion pounds, prior year. Revenue was down 14%, driven by lower average PGM prices.

The board approved an interim dividend of 22.0 pence per share, maintained at the same level as the prior year. The interim dividend will be paid on 1st February 2023, with an ex-dividend date of 8th December 2022, to shareholders on the register on 9th December 2022.

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