LONDON (dpa-AFX) - Johnson Matthey (JMAT.L) said it expects group operating performance for 2020/21 to be around the top end of market expectations. It is undertaking a strategic review of its Health business.
The company noted that its second half was materially stronger, following the disruption from COVID-19 earlier in the year.
The company projects Clean Air full year operating performance to be only moderately below the prior year. It expects a significant improvement in margin in the second half to above 13% and approaching pre-COVID-19 levels, driven by an improvement in volumes and early benefits from transformation program.
Efficient Natural Resources' performed strongly with full year operating performance is expected to be broadly in line with the prior year, despite challenges from COVID-19.
In Health, the company expects full year operating performance to be above the prior year.
In New Markets, the company expects full year operating performance to be above the prior year.
The company noted that it remains focused on driving efficiency and is making good progress against targeted annualized savings of 225 million pounds by 2022/23. For the year ended 31st March 2021, the company expects to deliver benefits of 60 million pound.
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