LONDON (dpa-AFX) - Johnson Matthey plc (JMAT.L), on Thursday, reported strong first-quarter sales growth of 63% year-on-year, largely driven by increased demand in Clean Air and also Efficient Natural Resources which benefited from higher precious metal prices and stronger end markets.
Sales have returned to pre-pandemic levels, and operating profit is ahead driven by more volatile and higher average precious metal prices, the company said.
Citing the strength the company currently sees in its end markets, Johnson Matthey now expects at least mid teens growth in underlying operating performance at constant metal prices and constant currency.
At current foreign exchange rates, translational foreign exchange movements for the year ending 31st March 2022 are expected to adversely impact underlying operating profit by about £20 million.
Copyright RTT News/dpa-AFX
© 2021 AFX News
