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[April 2005]
Johnson Matthey Trading Update
Johnson Matthey's financial year ended on 31 March 2005 and its preliminary announcement of the full year results will be released on 2 June 2005. Prior to entering its closed period, the company issued 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 26th January, 2005. Catalysts Division has continued to perform well with Environmental Catalysts and Technologies benefitting from the growth in the market for diesel cars in Europe. The platinum price has remained strong and trading conditions in the precious metals markets have been good which has benefitted Precious Metals Division. Pharmaceutical Materials Division's profits are slightly down with the anticipated drop in the contribution from carboplatin and weaker trading in contract research partly offset by good growth in controlled drugs. Colours and Coatings Division has continued its good recovery reported in the first half.
"The US dollar has averaged $1.88/£ for the second half of Johnson Matthey's financial year compared with $1.81/£ for the first half of 2004/05 and $1.77/£ for the second half of 2003/04. Dollar weakness will have an adverse effect on the group's reported results for the full year but earnings per share, before exceptional items and goodwill amortisation, are still expected to be ahead of last year and in line with market expectations."
ENDS