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Commenting
on current trading at today's Annual General Meeting,
Michael Miles, Chairman of Johnson Matthey, said:
"Johnson
Matthey has made a good start to the new financial
year with operating profit and earnings for the first
quarter comfortably ahead of last year.
Catalysts
and Chemicals Division has produced most of the growth.
Autocatalyst sales have remained strong benefiting
from the global spread of emissions legislation and
the introduction of our new process technology. Demand
for platinum group metal refining has also been good
which has benefited our Chemicals business.
On
9 July we announced we had acquired over 50% of the
shares in Meconic plc and that our offer for the
company had gone unconditional. This acquisition
provides a European base for our Pharmaceutical Materials
business. It will provide opportunities to sell existing
products into new markets and to combine research
and development, manufacturing and marketing resources.
The
outlook for the group as a whole for the rest of
the year remains encouraging and we anticipate continued
good growth."
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