JMAT’s management guides for a ‘materially’ better second half compared to the first half of this (business) year. We assume this is based on the current pick-up in demand, which was seen in the chemicals industry and might go away in early 2021.
Reported profitability was below our already cautious expectations and missed consensus by -43%, primarily due to an impairment and higher than expected restructuring costs to become a more agile company.
19 Nov 2020
Strongly betting on some kind of recovery
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Strongly betting on some kind of recovery
Johnson Matthey Plc (JMAT:LON) | 1,786 624.9 2.0% | Mkt Cap: 3,276m
- Published:
19 Nov 2020 -
Author:
Martin Schnee -
Pages:
3
JMAT’s management guides for a ‘materially’ better second half compared to the first half of this (business) year. We assume this is based on the current pick-up in demand, which was seen in the chemicals industry and might go away in early 2021.
Reported profitability was below our already cautious expectations and missed consensus by -43%, primarily due to an impairment and higher than expected restructuring costs to become a more agile company.