Results round-up

A £141m impairment and restructuring charge hit pre-tax profits at chemicals and sustainable technology group Johnson Matthey, which fell to £386.3m from £495m in a “difficult macroeconomic environment”.

Pre-tax profits also include the benefit of the £130m profit on the sale of Research Chemicals. Revenue were up 6% at constant exchange rates to £10.7bn. Basic earnings per share were 166.2p.

The board is recommending a 5% increase in the total dividend for the year, reflecting its confidence in the group's long term performance. This comprises a final dividend of 52.0p, making a total of 71.5p.

The company added that If current exchange rates are maintained throughout 2016/17, foreign currency translation will have a positive impact of approximately £15m on underlying operating profit, primarily due to sterling's weakness against the US dollar and the euro.

“The structural drivers for the group's technologies remain robust despite the challenging macroeconomic conditions which are expected to continue in 2016/17. Increased investment in R&D and capex, together with the restructuring actions taken in 2015/16, provide strong foundations for future growth,” the company said.

“In 2016/17 the group will benefit from progress in fine chemicals and new businesses. Emission control technologies' performance for the year as a whole is expected to be slightly ahead and, whilst market conditions in process technologies remain challenging, its performance should improve as a result of the reduced cost base.”

FTSE 250 plastic products design and engineering company RPC Group posted a rise in full-year profit as revenue grew and said it has made a good start to the new year.

For the year to the end of March, adjusted pre-tax profit rose 35% to £160.6m on revenue of £1.6bn, up 34% on the previous year as acquisitions contributed to growth.

Statutory pre-tax profit increased to £75.6m from £67.1m and the company proposed a full-year dividend per share of 17.1p, up from 14.3p.

RPC said the Promens business has been integrated and the integration of GCS is well advanced.

In addition, good progress has been made in the implementation of the Vision 2020 strategy with continued consolidation of the European plastic packaging market and enhancement of the group's global footprint.

Chief executive Pim Vervaat said: “The optimisation of the enlarged group's cost base is on track to deliver structural benefits of €80m per annum, an increase of €15m compared with previous estimates.

“Going forward, the group continues to explore opportunities for growth in line with the Vision 2020 strategy. The new financial year has started well and in line with management's expectations."