Johnson Matthey Looks to Expand
Johnson Matthey also announced first-half results, including a 61.6 million pound (~US$99.4 million) profit before tax and exceptional items. Chief executive Chris Clark said that the firm continued to make good progress in 1999 with all core businesses performing strongly in the first half of the year, and prospects were encouraging.
Following a review announced in November 1998, Johnson Matthey now has three key operating divisions—catalysts and chemicals, precious metals, and colors and coatings. Clark said a rationalization program in colors and coatings would add four million pounds (~US$6.5 million) to profits in its next financial year and seven million pounds (~US$11.3 million) the year after.