Johnson Matthey shares fall on first quarter profit dip
Shares in Chemicals firm Johnson Matthey fell after it reported a 1% dip in pre-tax profit for the first quarter of this year.
Chemicals
9,597.17
16:40 08/05/24
FTSE 100
8,354.05
16:50 08/05/24
FTSE 350
4,592.23
16:39 08/05/24
FTSE All-Share
4,544.24
17:04 08/05/24
Johnson Matthey
1,870.00p
16:44 08/05/24
At 0825 BST shares in the company were down 1.26% to 2974p.
Underlying profit before tax was £94m, down from the £95m it posted the year before.
The FTSE 100 firm posted group sales for the first quarter up 6% from the same period last year, from £749m to £797m.
However the company noted it sold its gold and silver refining business last year, and if you adjusted for this, group sales were up 8% and pre-tax profit up 1%.
Johnson Matthey said it expected profit to for the 2015/16 to be slightly ahead of 2014/15, but warned exchange rates could drag down reported results.