An excellent first half with strong growth in all divisions. Outlook remains very encouraging

Results

• Profit before tax excluding exceptional items up 40% to £86.0 million
• Operating Profit up 23% to £82.7 million. All three divisions delivering strong organic growth
• Earnings per share excluding exceptional items up 36% to 27.9 pence
• Interim dividend increased by 15% to 7.0 pence

Business developments

• Major investment programme continues in autocatalyst, chemicals and pharmaceutical materials
• Significant investment in fuel cell R&D. JM well positioned to benefit from initial markets for fuel cells
• Growth in Precious Metals supported by buoyant market demand for platinum group metals
• Rationalisation and investment in growth markets producing good results in Colours & Coatings

" All of our divisions are performing well. There are exciting opportunities before us especially in our key environmental technologies of autocatalysts and fuel cells. We are investing to ensure that Johnson Matthey benefits from these in the years ahead."

• Presentation to Analysts
  (Download presentation source - Interim2000.PPT)

• Review of Half Year Ended 30th September 2000
  (This file requires Adobe Acrobat Reader)

John Sheldrick
Group Finance Director
Johnson Matthey
+44 (020) 7269 8438

Gavin Anderson & Co