• World's biggest platinum refiner and fabricator
  • Latest trading results mixed. http://www.stockopedia.com/news/announcement/JMAT/090401jmat8745p.htm. Despite favourable currency tailwinds, the company reported weaker sales in the final quarter of its financial year, largely due to lower demand for autocatalysts as car companies continued to reduce production and soft platinum group metals prices.
  • However, its process technologies division achieved good growth in the three months to end-March as environmental concerns supported demand for purification products.
  • The firm said it would close its fine chemical facility in Ireland and consolidate manufacturing of biochemical prostaglandin products at its facility in the US. The move would cost 9 million pounds in restructuring charges.
  • EPS will be well within the guidance range of 85p to 90p given in the company's third quarter Interim Management Statement.
  • Cash flow said to be strong in the second half of 2008/09 with net debt estimated to be around £70 million lower than at 31st March 2008, despite the effect of adverse exchange translation on foreign currency borrowings.

 

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