24th Jan 2007 09:50
Johnson Matthey PLC24 January 2007 For Immediate Release on Wednesday 24th January 2007 Johnson Matthey Trading Update Johnson Matthey is hosting an analysts' visit today at its EnvironmentalCatalysts and Technologies (ECT) business in Royston. At the meeting NeilCarson, Chief Executive of Johnson Matthey, gave the following update on currenttrading: "Trading in the second half of Johnson Matthey's financial year is progressingwell. Catalysts Division is continuing to deliver good growth with ECTbenefiting from increased sales of heavy duty diesel catalysts following theintroduction of new emission regulations in Europe and North America. ProcessCatalysts and Technologies has also achieved good growth with strong sales ofsynthesis gas catalysts and a good contribution from Davy Process Technology. Precious Metal Products Division has had a strong third quarter with continuingfavourable conditions in the platinum group metal (pgm) markets. PharmaceuticalMaterials is also ahead of last year with continued recovery in its US business. On 14th December 2006 we announced the sale of our Ceramics Division forapproximately €226 million in cash. The transaction is conditional onregulatory approval in Germany, Spain and Portugal and is expected to becompleted on 28th February 2007. The proceeds from the disposal of the divisionwill be used to buy back shares and fund bolt-on acquisitions. The disposal of Ceramics will be slightly dilutive to earnings this year. TheUS dollar has also weakened further against sterling since our interim resultsannouncement on 22nd November 2006. However, these adverse effects will be morethan offset by favourable trading results, particularly in Precious MetalProducts Division. Consequently, the outlook for the full year remainsencouraging, with growth in earnings per share (excluding the profit on disposalof Ceramics) expected to be slightly better than the 9% rate achieved in thefirst half." Enquiries: Ian Godwin Director, IR and Corporate Communications 020 7269 8410John Sheldrick Group Finance Director 020 7269 8408Howard Lee The HeadLand Consultancy 020 7367 5225Laura Hickman The HeadLand Consultancy 020 7367 5227 www.matthey.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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