Trucks a catalyst for sales hike

JOHNSON Matthey, the world's largest supplier of catalytic converters, yesterday said its first-half performance should be significantly ahead, after a 19 per cent rise in first-quarter profit.

The British speciality chemicals company said underlying profit before tax rose to 98 million in the three months to end-June, on the back of a 12 per cent rise in sales, benefiting from higher demand for products including truck catalysts. Its fine chemicals division saw a 15 per cent rise in sales.