An excellent year with strong growth in all divisions. Major investment will underpin future growth.

Results

• Profit before tax excluding exceptional items up 25% to £180.3 million
• Operating profit up 20% to £175.0 million. All three divisions delivering strong organic growth
• Earnings per share excluding exceptional items up 22% to 58.1 pence
• Dividend for the year increased by 15% to 23.3 pence
• Strong balance sheet with net cash of £139.9 million

Business developments

• Major investment programme continues in autocatalyst, chemicals, pharmaceutical materials and fuel cells
• Site identified for fuel cell manufacturing at Swindon
• Growth in Precious Metals supported by buoyant market demand for platinum group metals
• Investment in growth markets producing good results in Colours & Coatings
• Surplus cash to be used to buy back shares
• Pursuing acquisitions to add to core businesses

"The group grew strongly last year and our businesses continue to perform well. As a result, we are investing significantly in the development of our technology and also in increased capacity, particularly for Catalysts & Chemicals. We are confident that the current year will again demonstrate the organic growth potential in Johnson Matthey. "

• Presentation to Analysts
  (Download presentation source - Prelim01.PPT)

• Review of Year Ended 31st March 2001
  (This file requires Adobe Acrobat Reader)

Enquiries:

Johnson Matthey

John Sheldrick
Group Finance Director
Johnson Matthey
+44 020 7269 8438

Gavin Anderson & Co