Company up­beat about earn­ings

The Star Early Edition - - COMPANIES -

JOHN­SON Matthey ex­pects higher earn­ings this year after the spe­cial­ity chem­i­cals company in­creased first-half prof­its due to stronger sales of its prod­ucts that help to make cars more en­vi­ron­men­tally friendly. The company said yes­ter­day tighter en­vi­ron­men­tal leg­is­la­tion was mainly re­spon­si­ble for boost­ing sales in Europe and Asia of its au­to­mo­tive cat­a­lysts, which con­trol car emis­sions. Growth in car pro­duc­tion and truck sales also helped. “Our growth is go­ing to be driven by car pro­duc­tion growth in cer­tain ar­eas such as Asia and North Amer­ica,” fi­nance di­rec­tor Den Jones said. “And our cus­tomers in Europe are do­ing bet­ter than oth­ers so we are ben­e­fit­ing from that,” he said. John­son Matthey said it ex­pected its per­for­mance in the cur­rent fi­nan­cial year would be slightly ahead of last year. – Reuters

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