LONDON (dpa-AFX) - Johnson Matthey Plc (JMAT.L) reported profit before tax from continuing operations of 344 million pounds for the year ended 31st March 2023 compared to 195 million pounds, prior year. Earnings per share from continuing operations was 143.6 pence compared to 60.8 pence. Underlying profit declined to 326 million pounds from 407 million pounds, previous year. Underlying earnings per share was 178.6 pence compared to 213.2 pence.
Revenue was down 7% to 14.9 billion pounds, driven by lower average PGM prices. Sales excluding precious metals were 4.2 billion pounds, up 6%, with higher prices to partially recover cost inflation, partly offset by lower average PGM prices.
For 2023/24, the Group projects at least mid-single digit growth in operating performance at constant precious metal prices and constant currency.
The board will propose a final ordinary dividend for the year of 55.0 pence per share at the AGM on 20th July 2023. Together with the interim dividend of 22.0 pence per share, this gives a total ordinary dividend of 77.0 pence per share, maintained at the same level as the prior year. The final dividend will be paid on 1st August 2023, with an ex-dividend date of 8th June 2023.
The Group announced the appointment of Barbara Jeremiah as an independent Non-Executive Director. This appointment is with effect from 1st July 2023 and Barbara will also become a member of all four board committees. Chris Mottershead will step down as Chair of the Remuneration Committee following the AGM in July 2023 and from the board on 26th January 2024. Barbara will become the Senior Independent Director, succeeding John O'Higgins who will become Chair of the Remuneration Committee.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
Copyright(c) 2023 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX