Johnson Matthey shuffles leadership team, holds FY outlook

(Sharecast News) - Johnson Matthey on Thursday said it had reshuffled its leadership team and also held its full-year outlook despite a fall in interim earnings.

The speciality chemicals firm said Alastair Judge had been appointed as chief financial officer with current CFO Richard Pike taking on the chief operating officer post.

Judge joined the company in July 2018 and Pike comes on board having worked at Pilkington and Associated British Foods, including the role of managing director of British Sugar.

For the year ending to March 31 Johnson Matthey expects underlying operating profit growth at the higher end of a mid-single digit percentage range, despite the challenging macroeconomic environment.

"Overall performance will continue to be weighted towards the second half. However, second half performance will be lower year-on-year driven by platinum group metal services, reflecting lower metal recoveries and refining volumes, as expected," the company said.

"If PGM prices remain at their current level for the remainder of 2025/26, we expect a £20m benefit to full year operating profit compared with the prior year."

Reported pre-tax profit for the six months to September 30 fell 83% to £86m after the £1.8bn sale of its Catalyst Technologies division to US industrial giant Honeywell after pressure from its largest shareholder, Standard Investments, to unlock what it called the firm's "unrealised promise".

Reporting by Frank Prenesti for Sharecast.com