UK chemical coatings concern Johnson Matthey Plc reported profit before tax excluding exceptional items for the year ended 31 March 2001 up 25% to GBP 180.3 million. Earnings per share excluding excep…
UK chemical coatings concern Johnson Matthey Plc reported profit before tax excluding exceptional items for the year ended 31 March 2001 up 25% to GBP 180.3 million. Earnings per share excluding exceptional items were up 22% to 58.1 pence. Sales increased by 53% to GBP 5.9 billion boosted by significantly higher prices for platinum and palladium. Sales excluding the value of precious metals for the continuing businesses rose by 16% to GBP 977 million. The declared dividend for the year increased by 15% to 23.3 pence. Chris Clark, Chief Executive of Johnson Matthey said, “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. ” In a press statement the company said that the Colours & Coatings Division increased its sales by 6% to GBP 255 million. Sales of decorative products for the tile and glass industries grew strongly. Operating profit for the division increased by 15% to GBP 32.2 million. The Structural Ceramics sector, which sells mainly to the tile industry, achieved strong sales growth in Europe and Asia. Margins continue to improve reflecting the benefit of the major investment in modern manufacturing capacity in Spain. The Glass sector also had a successful year with good sales of automotive glass enamels and silver pastes. Tableware continued to encounter difficult market conditions with sales to UK customers again declining. However operating profit increased as a result of the cost reduction programme undertaken during the year.