Johnson Matthey profit up 13 percent on rising car, truck output

LONDON Thu Nov 21, 2013 2:13am EST

LONDON Nov 21 (Reuters) - Johnson Matthey, the world's largest maker of catalysts to control car emissions, posted a 13 percent rise in first-half profit, helped by increased global production of cars and trucks and demand for its speciality catalysts.

The British specialty chemicals firm - which also refines and recycles platinum group metals - said underlying profit before tax totaled 212.9 million pounds ($344.3 million) for the six months to the end of September, up from a restated 187.9 million for the year-ago period.

The group said the end of long-standing arrangements with Anglo American Platinum would impact profitability in the fourth quarter, but it would also benefit from tighter rules for European trucks.

"We therefore expect that if the impact of the loss of the Anglo Platinum contracts is excluded, Johnson Matthey's performance in the second half will be in line with that of the first six months," Neil Carson, chief executive, said in the statement.

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