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Johnson Matthey’s financial year ends on 31st March 2007 and its preliminary announcement of the full year results will be released on 7th June 2007. Prior to entering its closed period the company is today issuing the following update on current trading.
"Trading in the second half of Johnson Matthey’s financial year has continued in line with the trading update given on Wednesday 24th January 2007. Catalysts Division is continuing to deliver good growth with Environmental Catalysts and Technologies benefiting from increased sales of heavy duty diesel catalysts following the introduction of new emission regulations in Europe and North America. Process Catalysts and Technologies has also achieved good growth with strong sales of synthesis gas catalysts and a good contribution from Davy Process Technology.
Precious Metal Products Division has had a particularly strong second half with continuing favourable conditions in the platinum group metal (pgm) markets. Pharmaceutical Materials is also ahead of last year with continued recovery in its US business.
On Wednesday 28th February 2007 we completed the sale of our Ceramics Division. The proceeds from the disposal of the division will be used to buy back shares and fund bolt-on acquisitions.
Overall, despite adverse exchange translation, Johnson Matthey has achieved good growth in sales and earnings this year and the outlook for the new financial year is encouraging."
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