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Wednesday, November 25, 2009
Johnson Matthey First-half Net Profit Falls 20%
By Sarah Turner
MarketWatch Pulse
LONDON -- Specialty chemicals group Johnson Matthey said Wednesday that first-half attributable profit declined to 79.0 million pounds ($131.5 million), from 98.6 million pounds last year. Sales fell to 3.6 billion pounds, from 4.4 billion pounds a year ago. Sales and profits were lower than last year's peak as the business was impacted by the slowdown in automotive markets and the fall in the price of platinum group metals, the firm said. "Whilst visibility remains limited in some of our end user markets, the group is well placed to benefit from economic recovery. The outlook for the full year is in line with current market expectations," it said.
Copyright © 2009 MarketWatch, Inc.
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