LONDON (dpa-AFX) - Johnson Matthey (JMAT.L) announced the establishment of an Investment Committee of the Board. The Committee will reinforce the company's investment strategies and capital allocation. Specific responsibilities of the Committee will include review and endorsement of: investment and capital allocation strategy; major capital projects; and M&A activity.
For FY2024/25, the Group expects positive free cash flow, primarily driven by the benefits of the transformation strategy and a stronger performance from PGMS given an expected improvement in volumes. Going forward, the Board expects cash conversion levels to significantly increase from around 20-30% in fiscal 2024/25, to at least 50% in fiscal 2025/26 and above 80% in fiscal 2026/27 and beyond.
The Board said it is confident in the value that Johnson Matthey's transformation strategy will create for all shareholders, and remains open-minded to, and regularly assesses, alternative strategic options for value maximisation in the ordinary course of business.
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