Johnson Matthey PLC said Thursday that it is undertaking a strategic review of its health business, and that it expects its performance for fiscal 2021 to be around the top end of market forecasts.
The FTSE 100 chemicals and sustainable-technologies company said the current consensus for underlying operating profit for the year to March 31 is 469 million pounds ($644.4 million), which would compare with GBP539 million for fiscal 2020.
The company said its second-half performance was materially stronger after disruption from the coronavirus pandemic in the year, and reflected increased activity in the automotive and other key end markets, as well as cost management.
Johnson Matthey said the strategic review of its health business is part of a review of its portfolio to focus resources on areas of greatest opportunity to maximize value for shareholders.
The company said it has been investing in sustainable technologies that will enable decarbonization, including its portfolio of battery materials and hydrogen technologies.