Johnson Matthey (JMAT.L) reported fiscal year profit before tax from continuing operations of 91 million pounds compared to 403 million pounds, last year. Loss per ordinary share from continuing operations was 53.9 pence compared to profit of 175.5 pence. Underlying operating profit from continuing operations was 340 million pounds, an increase of 14%. Pro forma underlying operating profit - excluding the impact of PGM prices - grew 6%. Including the impact of PGM prices, pro forma underlying operating profit grew 14%. Underlying basic earnings per share from continuing operations was 128.5 pence compared to 110.7 pence.
For the year ended 31st March 2026, revenue from continuing operations increased to 12.57 billion pounds from 11.02 billion pounds. Sales excl. precious metals was 2.55 billion pounds, down 10%.
For 2026/27, the Group expects low to mid single digit percentage growth in group underlying operating profit at constant precious metal prices and constant currency.
The board will propose a final ordinary dividend of 55.0 pence per share at the AGM. Together with the interim dividend of 22.0 pence per share, this gives a total ordinary dividend of 77.0 pence per share.
Separately, Johnson Matthey Plc announced it has reached an agreement to acquire Cormetech Inc., a US manufacturer of Selective Catalytic Reduction catalysts providing emissions control for stationary power generation and industrial applications. The company will acquire Cormetech for an enterprise value of $360 million payable in cash on completion. An additional earn-out consideration of up to a total of $100 million may be payable in cash during calendar years 2028 and 2029. The deal is EPS accretive to Johnson Matthey from the first full year of ownership on a pre synergy basis. The transaction is expected to complete at the end of June or in July 2026.
Johnson Matthey stated that it remains on track to deliver existing financial guidance on Group cash generation and shareholder returns, including returning 1 billion pounds of net sale proceeds to shareholders following the sale of JM's Catalyst Technologies business to Honeywell.
Shares of Johnson Matthey are trading at 2,179.61 pence, up 0.074%.
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