Profits up 13 per cent at Johnson Matthey
Johnson Matthey chief executive Neil Carson - Credit: Archant
Royston’s biggest employer says a 13 per cent profit rise in the first half of this year “exceeded their expectations”.
Johnson Matthey PLC registered pre-tax profits of £202.1million for the first half of the 2013/14 tax year, up on the previous period’s figure of £180.1million.
The precious metals firm, who are based in Orchard Road, Royston, had seen profits fall during the previous tax year, and Neil Carson, the firm’s chief executive, said: “Johnson Matthey delivered a strong performance in the first half of 2013/14 driven primarily by good growth in Emission Control Technologies, where global car and truck production increased, and good demand for Process Technologies’ products.
“Precious Metal Products, which had a poor first half last year, recovered and overall volumes in its Services businesses increased.”
Revenue was up an impressive 31 per cent, from £4,892million to £6.411million.
You may also want to watch:
The firm employs approximately 1,700 people in Royston, and though Mr Carson is urging caution as they look forward to 2014, he is hopeful Johnson Matthey will continue to perform well.
He said: “The group’s results in the first half of the year exceeded our expectations. In the second half, the group’s long standing arrangements with Anglo American Platinum will expire on 31 December 2013 and this will impact profitability in the fourth quarter.
Most Read
- 1 Which Herts communities have seen the biggest rises and falls in COVID-19?
- 2 Rapid community COVID-19 testing launches in Hertfordshire
- 3 More Royston GP surgeries begin to give COVID-19 vaccinations
- 4 Trial date changed for killer of children's author accused of wife's murder
- 5 Chief executive takes 'personal oversight' of inquiry into deputy leader's farm tenancy
- 6 NHS Trust says vaccine figures offer hope as 40 per cent of Lister's patients have COVID-19
- 7 Hare coursers damaged farmer's crops in escape bid
- 8 Wonder Woman flies into IWM Duxford for movie scenes
- 9 Teen arrested in connection with sexual assault investigation
- 10 Thriplow's Baroness Boothroyd slams government vaccine strategy
“At the same time we should 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.
“We therefore expect that if the impact of the loss of the Anglo American Platinum contracts is excluded, Johnson Matthey’s performance in the second half will be in line with that of the first six months.”