Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

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For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

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In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

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We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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Johnson Matthey PLC (JMAT)

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Wednesday 25 July, 2012

Johnson Matthey PLC

Interim Management Statement

RNS Number : 4115I
Johnson Matthey PLC
25 July 2012
 



 

 

 

 

For release at 7.00 am on Wednesday 25th July 2012

 

 

Johnson Matthey Plc - Q1 Interim Management Statement

 

Steady Progress in First Quarter

 

At today's Annual General Meeting to be held at 11:00 am, Tim Stevenson, Chairman of Johnson Matthey, will make the following statement on the group's trading in its first quarter covering the period from 1st April 2012 to date:

 

"Johnson Matthey has made further progress in the first quarter of 2012/13 with sales excluding precious metals (sales) up 6% to £657 million.  Good growth in operating profit from our Environmental Technologies and Fine Chemicals Divisions was offset by a substantial reduction in operating profit from Precious Metal Products Division which was particularly impacted by the effect of lower precious metal prices.  As a result, the group's underlying profit before tax was £99.9 million (Q1 2011/12: £98.2 million). 

 

The group's balance sheet remains strong and at 30th June 2012 net debt was £470 million.  Subject to shareholder approval at today's AGM, the ordinary and special dividends proposed at the time of the full year results will be paid on 17th August.  In June we successfully arranged new long term loans for approximately $250 million in the US private placement market. 

 

Environmental Technologies Division

Environmental Technologies Division continued to perform well with sales in the quarter up 12% to £465 million and operating profit well ahead of last year.  Emission Control Technologies' (ECT's) sales were 11% up at £370 million.  Sales of light duty vehicle catalysts grew well in North America and Asia, but were marginally lower in Europe.  Our heavy duty diesel catalyst sales grew strongly, with good growth in North America but sales were lower in Europe.  ECT's operating profit benefited from the removal of headwinds associated with higher rare earth prices and the Japanese earthquake and tsunami that impacted its results in the first half of last year.  This was, however, partly offset by the change in light duty product mix in Europe, as the proportion of diesel vehicles produced declined slightly.  Process Technologies performed well with sales up by 17% to £94 million and growth across all of its businesses.  The order book for the next few months is strong and Davy Process Technology continues to pursue new licence opportunities. 

 

Precious Metal Products Division

The performance of the division's Services businesses was significantly impacted by lower precious metal prices.  These have fallen substantially over the last nine months in response to the uncertain macroeconomic environment, particularly in Europe.  In the first quarter of 2012/13 average platinum and palladium prices were 16% and 17% lower than in the corresponding period last year, at $1,502/oz and $630/oz respectively.  As a consequence of lower metal prices, intakes in our refining businesses were also down by around 20% in the first three months of 2012/13.  Sales in the division's Manufacturing businesses were broadly in line with last year.  As a whole, Precious Metal Products Division's sales were down 8% at £139 million.  Operating profit was however significantly lower, principally due to the reduction in profit from our higher margin Services businesses. 

 

Fine Chemicals Division

Sales in our Fine Chemicals Division were flat at £69 million, however the division achieved good growth in operating profit.  The API Manufacturing businesses continue to perform well driven mainly by strong demand for amphetamine salts used for attention deficit hyperactivity disorder (ADHD) treatments

 

Outlook

Looking ahead, whilst visibility remains low, demand for the group's products is steady with growth in North America and Asia offsetting softer European markets.  If market conditions and precious metal prices remain as they are today, the outlook for the group in the second quarter of 2012/13 is expected to be broadly similar to that of the first quarter.  For the year as a whole, we expect that growth in Environmental Technologies and Fine Chemicals Divisions will be offset by continued weakness in Precious Metal Products Division." 

 

Conference Call for Analysts and Investors

Robert MacLeod, Group Finance Director, will host a conference call at 8:00 am today, Wednesday 25th July 2012, to discuss this Interim Management Statement. 

 

The dial-in number for UK callers is 01296 311600; for overseas callers the number is +44 1296 311600; and the passcode is 547317#. Please dial in at least 5 to 10 minutes prior to the start of the conference call to allow time for registration.  

 

 

Enquiries:

 

Ian Godwin

Director, IR and Corporate Communications

020 7269 8410

Robert MacLeod

Group Finance Director

020 7269 8484

Howard Lee

The HeadLand Consultancy

020 7367 5225

www.matthey.com



 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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