What is Johnson Matthey's forecast for underlying operating profit growth in the fiscal year ending March 31, 2027, and what key exclusions apply to that forecast?

Johnson Matthey PLC forecasts low- to mid-single digit percentage growth in underlying operating profit for the fiscal year ending March 31, 2027, at constant precious metal prices and constant currency. This forecast explicitly excludes the sale of the catalyst technologies business to Honeywell International Inc. and the acquisition of Cormetech Inc., and notes that performance will be weighted towards the second half of the fiscal year.

What were Johnson Matthey's reported financial results for the fiscal year ended March 31, 2026, and what were the primary drivers of the year-on-year decline?

For the fiscal year ended March 31, 2026, Johnson Matthey reported a net loss of £91 million from continuing operations—reversing a £310 million net profit in the prior year—and a 65% decline in operating profit to £161 million, with sales excluding precious metals down 10% to £2.56 billion; the sharp deterioration was driven by a £135 million impairment charge, £57 million in restructuring charges, and the absence of a £482 million profit on disposal from the sale of its medical device components business in the prior year.

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