Johnson Matthey's Profits Rise on Improved Demand

Johnson Matthey reported net income for its fiscal year ended March 31, 2011 up 11%, to £182.7 million ($299.4 million), on sales up 27%, to £10 billion. Operating income rose 12%, to £281.2 billion. Sales excluding precious metals soared 29%, to £7.7 billion.  Environmental technologies division’s sales rose 25%, and underlying operating profit jumped 36%, Johnson says. Emission control technologies’ sales grew 25%, benefiting from good growth in light duty vehicle production and a strong recovery in its heavy-duty diesel...

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