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[February 2006]
Johnson Matthey Trading Update
Johnson Matthey held an analysts' visit in Edinburgh, Scotland at the end of January, where Chief Executive Neil Carson provided the following update:"Trading in the second half of Johnson Matthey's financial year is progressing in line with expectations. Catalysts Division continues to perform well with Environmental Catalysts and Technologies (ECT) benefiting from growth in diesel emission control products in Europe.
"Demand for autocatalysts in the USA remains weak but sales in China and Japan are well up on last year. Overall, ECT is on track to achieve 10% growth in profits in the second half. Process Catalysts and Technologies (PCT) is also expected to achieve good growth for the year led by the Ammonia, Methanol, Oil and Gas (AMOG) catalyst business. Sales of catalysts for hydrogen generation and gas purification have been particularly strong.
"Precious Metal Products Division has had a good third quarter and should benefit from the strong platinum price which rose above $1,000/oz earlier this month. Pharmaceutical Materials Division's sales were up in the third quarter and profits in the second half should be ahead of the first.
"Ceramics Division has maintained the improvement achieved in the first half and should deliver good profit growth for the year.
"Overall, the outlook for the full year remains very much the same as we set out in our interim statement. Following an encouraging first half we are expecting to achieve good growth in earnings for the year."
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ENDS