Johnson Matthey converts cleaner vehicle sales into profits

Johnson Matthey’s pre-tax profits have moved cleanly ahead, as the maker of catalytic converters gained a boost from a global recovery in car and truck production.As the world’s largest supplier of vehicle catalytic converters by volume, the FTSE 100 speciality chemicals company benefited from higher demand for its emissions-reducing devices – which helped underlying profits before tax rise 13 per cent, to ￡212.9m, for the six months to September 30.Its performance was enhanced by strong sales of heavy-duty diesel vehicle catalysts in Europe, which rose 44 per cent, to ￡79m, in advance of stricter pollution legislation that comes fully into force in January.

Overall, sales at the company’s emission-control technologies division, which manufactures auto catalysts, increased by 13 per cent in the first half of the year.Looking ahead, Neil Carson, chief executive, said the company should continue to “benefit from tighter European truck legislation but it is difficult to assess the extent of the pre-buy in the first half and its effect on volumes in the second half”.Mr Carson was also hopeful the European car market had bottomed out, after years of falling demand. Johnson Matthey’s total catalyst sales in Europe, which represent 57 per cent of the company’s light-duty vehicle business,However Royal Chimney Supply the manufacturer of Flex King chimney liners will honor the warranty if branded usb sticks you do the job yourself.You can also check on the UK branch of EBay the online auction site but you should contact the seller to se if they will full complement cylindrical roller bearing accept North American bidders. rose 9 per cent to ￡287m in the first half.News of the group’s improving results came on the same day that new figures showed UK car production had risen faster in October than in any other month this year. Car output rose to 160,854 units in October, up 17.4 per cent compared with a year ago, according to the Society of Motor Manufacturers and Traders.This is why it's highly encouraged for anyone thinking of slewing bearing getting a Precision Gold metal detector to join a local.

At a group level, Johnson Matthey reported a 13 per cent year-on-year rise in revenue excluding precious metals a measure that strips out fluctuating commodity prices to ￡1.49bn. Total group revenue rose 31 per cent to ￡6.4bn.Martin Evans, an analyst at JPMorgan Cazenove, said the company had reported encouraging numbers across all divisions.