LONDON (dpa-AFX) - Johnson Matthey Plc. (JMAT.L) said that its group guidance, at constant rates, for the first half and the year ended 31st March 2020 remains unchanged. It expects growth in operating performance at constant rates to be within its medium term guidance of mid to high single digit growth.
The company continues to expect capex of up to 500 million pounds in the fiscal year 2019/20.
At current foreign exchange rates translational foreign exchange movements for the year ending 31st March 2020 are expected to benefit sales by 128 million pounds and underlying operating profit by 21 million pounds.
The company said it expects to deliver attractive and sustainable growth and returns over the medium term. It aims to deliver mid to high single digit earnings per share CAGR.
The company noted that Clean Air business will deliver mid single digit growth in operating performance to 2025 and sustained growth for the next decade.
The company expects its first commercial plant to be on stream in 2022 and to be supplying platforms in production in 2024. Its total investment when it has commercial production from its plant will amount to about 350 million pounds.
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