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Trading statements

Johnson Matthey Q3 sales rise

02 February 2017 07:24

Johnson Matthey's third quarter sales rose to £876m - up 19% at actual rates and up 2% at constant rates.

And it said underlying profit before tax was ahead of last year at constant rates.

The group confirmed the full year outlook and expected performance to be slightly ahead of last year for continuing businesses at constant rates.

A trading statement said: "Trading for the group in the third quarter was in line with our expectations.

"Sales of £876 million were 2% up on last year supported by good demand across many of our markets.

"First half trends in ECT continued in Q3, with good growth in Europe and Asia. As expected, Process Technologies benefited from a stronger order book and Precious Metal Products' sales grew well due to improved demand and more favourable average precious metal prices.

"Fine Chemicals was impacted by lower sales in North America, particularly of active pharmaceutical ingredients (APIs) for attention deficit hyperactivity disorder (ADHD) treatments, although these should improve in Q4. New Businesses had a weaker quarter, partly as a result of phasing of orders in Battery Technologies.

"The group's underlying profit before tax was ahead of last year and our outlook for the full year remains unchanged."

Story provided by StockMarketWire.com

Related Company: JMAT

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