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Johnson Matthey reports lower quarterly sales

8:24 AM MST | January 30, 2013 | Francinia Protti-Alvarez

Johnson Matthey reported a 2% year-on-year (YOY) decrease in group sales, excluding precious metals, to £635 million ($998 million), for its fiscal third quarter ended 31 December 2012. The company announced the figures today in an interim management statement. Underlying pretax profits fell by 19%, to £84.3 million, primarily because of a change in the mix of sales in the company's environmental technologies division and lower volumes in the precious metal products division. Net debt increased in the quarter by £44 million, to £739...

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