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Johnson Matthey's fine chemicals division reports rise in operating profits

3:00 AM MST | November 22, 2012 | Deepti Ramesh

The fine chemicals division of Johnson Matthey recorded a 2.8% fall in sales in the fiscal first half ended 30 September 2012, compared with the corresponding period of the previous fiscal year, to £138 million ($220 million). Underlying operating profit for the fine chemicals division increased 14.5%, however, to £37.2 million. Sales from the division’s active pharmaceutical ingredient (API) manufacturing businesses, which comprise Macfarlan Smith (Edinburgh, United Kingdom) and Pharmaceutical Materials and Services (West Deptford, NJ), fell...

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