Cambridge UK industrial technologies business Johnson Matthey is predicting that performance for 2016-17 will be ahead of last year as a result of a major restructuring that has clipped costs by £34 million.
Its divisional overhaul is already paying dividends, according to chief executive Robert MacLeod. He said the performance in challenging markets in the year to March 31 was robust and there were positive signs for the future.
JM reported revenues seven per cent up on the previous year at £10.714 billion although profit before tax was five per cent down to £418.2m. The dividend has been increased five per cent to 71.5p per share.
Despite cutbacks where possible, the company says it is maintaining its ongoing investment strategy to …
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