gamesinvestor
01 Jun 2017
Re: Results Thi seems to be the only negative in this last statement :-"""Improving operating performance at constant rates, with stronger sales growth and further efficiency savings, is expected to be offset as there will be no US post-retirement medical benefit credit and there are higher non cash pension charges in 2017/18."""Apart from that the growth at constant currency rates was encouraging -- and the boost from currency shifts a bonus, which is expected to be repeated for next year.Games -- Maybe I should hang on to som here and hope the car market doesn't collapse
gamesinvestor
01 Jun 2017
Results Johnson Matthey posted solid growth in sales and profits for the year to 31 March, with revenue up 12% and profit before tax up 19%, helped by a big currency benefit.The chemicals group recommended a final dividend per share of 54.5p, that lifted the full year payout to 75p, a 5% annual increase that the company said reflected confidence in its medium term prospects.While reported revenue for the year to 31 March was up 12% to £12.03bn, a truer figure of underlying sales excluding precious metals rose 13% to £3.58bn and underlying operating profit by 14% to £513.3m.Underlying profit before tax increased 15% to £481.7m and earnings per share by 17% to 209.1p.The company's guidance was for profit before tax to be unchanged from the £410.7m the previous year, while the City consensus forecast was for underlying operating profits of £505m and earnings per share of 205p.As a result of the restructuring programme announced, costs were cut by £26m, while the business produced free cash flow of £230m and spent £265m on capex and £201m on R&D."This has been a year of further progress; strengthening our business, implementing our strategy and delivering financial results in line with our expectations," said chief executive Robert MacLeod.For the new 2017/18 financial year, he expected sales growth at constant currency rates to be broadly in line with the 6% growth delivered in the second half of this year, but reported results should again benefit from the positive impact of translational foreign exchange."Improving operating performance at constant rates, with stronger sales growth and further efficiency savings, is expected to be offset as there will be no US post-retirement medical benefit credit and there are higher non cash pension charges in 2017/18."
gamesinvestor
23 May 2017
Tesla Bigger than Apple? [link] """" I want to preface this by saying I could be delusional,” Mr Musk told Wall Street analysts on his company’s latest quarterly earnings call. He went on to say that he could see “a clear path” to Tesla, which is currently worth $51bn, topping the iPhone maker, worth $776bn."""Well he could be, but I followed his lead on PayPal and so far it's done pretty well.It's hard to bet against him, although I wouldn't invest in his Space game.Oh why didn't I buy Tesla when it went to $178 this year?Games -- maybe it will revisit that price?
gamesinvestor
23 May 2017
Today's car makers..... [link] be some real truth in this if he hits 500,000 cars next year and the automation methods are that much better than competition.Games
gamesinvestor
22 May 2017
Re: 2018 Dog - agreed, they seem to have produced little and certainly no profit of significance from the new businesses.It all hangs on the CAT business which is 60+% overall and if only 10% of that falls off in a 2-3 year period, you could be looking at a stagnant at best or a declining share price and dividend position.Games
dog-with-fleas
21 May 2017
Re: 2018 Games - I was alluding to JM's efforts to develop robust and novel technology for its batteries business to supply the changing auto industry. It has pumped millions into fuel cells over the years without any ROI.
gamesinvestor
20 May 2017
Re: 2018 "I mentioned on here that this restructure was desperately required"Dog that sounds laudable, sadly there is not much they can do about the technology shift in the market, which looks like making the bulk of their core business redundant in time.Games
dog-with-fleas
20 May 2017
Re: 2018 I believe there is a "any port in a storm" strategy crisis going on in their boardroom and at senior management levels.The one alluded to in a recent RNS (that nobody on here commented on) seems like it's an acceptance that the corporation needs a change otherwise it will be faced with negative growth. The strategy of merging all cash cow business areas looks sensible but could take time to bear fruit. Encouragingly, my understanding is that one or more members of the boardroom have been given the chop as part of this restructure (not sure why this hasn't been reported in an RNS, unless they're on garden leave?). I mentioned on here that this restructure was desperately required after the last set of results were published. With strengthening £ and weakening $ which papered over the cracks last year I think the SP will come under further pressure. Unless their R&D can unveil some game changing gems in the coming months or years, which given their appalling track record is highly unlikely, I do not see a long term sound investment for shareholders.The merging of cash cows could make the company more vulnerable to a take over or even divestment of some of its less profitable businesses that demand more focussed R&D.
gamesinvestor
20 May 2017
Re: 2018 ""Standard Life""LK -- You wouldn't let these turkey's anywhere near your pension would you?Games - Life is definitely not standard -- it changes too much!!
LK Hyman
20 May 2017
Re: 2018 Games,Steady the Buffs! Standard Life has just increased its stake a bit, and now holds a little over 5%.LKH at the LK Wash & Valet
gamesinvestor
20 May 2017
2018 According to this report :-[link] cars could be as affordable (all told in terms of buying and running costs) as ICE even by next year.I think this is happening faster than anyone thinks, and despite the obvious hype often seen in the press, it could only take 10% of the car market to blow apart the economics of the traditional car manufacturers and the economics at petrol/diesel pump sales.If this is the start of the erosion, JMAT will not have enough time to compensate for the steady loss of revenue in CAT sales, with it's loss making battery division. Unless someone has seen news of JMAT signing a deal to supply products to Tesla.I'll be selling all the rest of my JMAT shares on Monday.Games
Kool Keith
07 May 2017
Re: Ad Blu Ad Blu is a pain in the rear, had it one previous Audi Q5 and same with the Land Rover. Apparently if you run out of Ad Blu and don't refill in time (another sneaky cost) the car won't run.
gamesinvestor
05 May 2017
Nissan Home Battery [link] you don't get fluid all over your carpet after you have removed it from the car.Games
dog-with-fleas
02 May 2017
Re: GM Electric vehicles I remain convinced that it is simply a question of 'when' not 'if' with regard to the commercial emergence of EV's, which will have major ramifications for the established supply chains of the traditional auto industry. This factor is going to haunt the share price short term. It really is make or break for suppliers like JM and with its new corporate structure does seem to recognise that it's cash cow is under threat in the medium term and needs to take pre-emptive measures to remain in the changing market. Reshuffling the pack is one thing but a change in culture is another if looking to achieve a genuine step out technology to compensate for its loss of ECT revenue. JM's track record of delivering on its technology promises is not impressive (e.g. Fuel Cells) so the future does not bode well.An acquisition by a more forward thinking corporation is the only way and only hope longer term IMHO.
gamesinvestor
02 May 2017
GM Electric vehicles [link] seems to be gathering pace. If GM can realistically sell en mass at lower prices the wider community are willing to pay, and others compete, then I think JMAT is really going to suffer big falls in sales in ECT which is still the dominant sector of the business.Games -- come on get back above 3000+ then I can trim this holding.
