- Subdued PGM market
- £150mn in Cost savings
The share price of Johnson Matthey (JMAT) clicked into reverse after the sustainable technologies group failed to meet market expectations at the half-year mark. Interim adjusted revenue (excl. precious metals) contracted by 3 per cent to £1.72bn, with profit at its platinum group metals (PGM) business down by a third. Management anticipates that PGM prices will remain at their current level for the remainder of 2024/25, leading to an adverse impact of £3mn to full year operating profits.