Johnson Matthey (JMAT)

Sector:

Industrial Chemicals

Index:

FTSE 250

1,789.00p
   
  • Change Today:
    -5.00p
  • 52 Week High: 2,001.00
  • 52 Week Low: 1,446.50
  • Currency: UK Pounds
  • Shares Issued: 193.59m
  • Volume: 654,443
  • Market Cap: £3,463.32m
  • RiskGrade: 168

Johnson Matthey to close battery materials business, sell assets

By Michele Maatouk

Date: Wednesday 12 Jan 2022

LONDON (ShareCast) - (Sharecast News) - Johnson Matthey has announced the proposed closure of its battery materials business and the sale of the individual assets after talks over the sale of the entire division failed to result in an agreement.
The company said in November that it had decided to sell the segment, arguing that the potential returns from the unit would not be adequate to justify further investment.

"Further to that announcement, we have held discussions with a number of parties about a sale of the entire business," JMAT said on Wednesday. "These discussions have not resulted in an agreement to sell the entire business as a going concern. Consequently, we are announcing today that we are commencing consultation with our employees about our proposed closure of the battery materials business, and we are pursuing the sale of its individual assets."

At the interim results, it fully impaired the carrying value of the battery materials assets as at 30th September 2021, resulting in a charge of £314m. It said that while the outcome of the sales process is uncertain, full or partial closure will result in additional impairment charges, the settlement of contractual liabilities, redundancy, closure and abandonment costs, as indicated in November.

After anticipated asset disposal proceeds, the company estimates these cash costs will be around £150m, which will be recorded as an exceptional item outside of underlying operating profit in the full-year results.

At 1435 GMT, the shares were down 2.4% at 1,992p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Johnson Matthey Market Data

Currency UK Pounds
Share Price 1,789.00p
Change Today -5.00p
% Change -0.28 %
52 Week High 2,001.00
52 Week Low 1,446.50
Volume 654,443
Shares Issued 193.59m
Market Cap £3,463.32m
RiskGrade 168

Johnson Matthey Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
56.75% above the market average56.75% above the market average56.75% above the market average56.75% above the market average56.75% above the market average
50.00% above the sector average50.00% above the sector average50.00% above the sector average50.00% above the sector average50.00% above the sector average
Price Trend
21.71% above the market average21.71% above the market average21.71% above the market average21.71% above the market average21.71% above the market average
66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average
Income
44.51% above the market average44.51% above the market average44.51% above the market average44.51% above the market average44.51% above the market average
66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average
Growth
55.92% below the market average55.92% below the market average55.92% below the market average55.92% below the market average55.92% below the market average
55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average

What The Brokers Say

Strong Buy 3
Buy 1
Neutral 7
Sell 2
Strong Sell 0
Total 13
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Johnson Matthey Dividends

  Latest Previous
  Interim Final
Ex-Div 30-Nov-23 08-Jun-23
Paid 06-Feb-24 01-Aug-23
Amount 22.00p 55.00p

Trades for 28-Mar-2024

Time Volume / Share Price
16:36 25,000 @ 1,784.40p
16:35 260,306 @ 1,789.00p
16:35 256 @ 1,789.00p
16:35 1,132 @ 1,789.00p
16:35 360 @ 1,789.00p

Johnson Matthey Key Personnel

Chair Patrick W. Thomas
CFO Stephen Oxley
CEO Liam Condon

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