JMAT reported quite a good set of H1 figures with a higher than expected profitability. However, the single divisions gave a mixed picture of which Clean Air and Efficient Natural Resources made the pace on the profitability level. Despite management’s confirmation of FY guidance, we see some risks approaching (e.g. the consequences of UK’s exit from the EU, trade wars), which could make the business more challenging.
21 Nov 2018
Pulling the load
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Pulling the load
Johnson Matthey Plc (JMAT:LON) | 1,767 -335.7 (-1.1%) | Mkt Cap: 3,242m
- Published:
21 Nov 2018 -
Author:
Martin Schnee -
Pages:
3
JMAT reported quite a good set of H1 figures with a higher than expected profitability. However, the single divisions gave a mixed picture of which Clean Air and Efficient Natural Resources made the pace on the profitability level. Despite management’s confirmation of FY guidance, we see some risks approaching (e.g. the consequences of UK’s exit from the EU, trade wars), which could make the business more challenging.