Johnson Matthey Posts Higher Profits

Driven partly by the performance of its Spokane-based electronics division, Johnson Matthey Plc realized a 6 percent gain in pre-tax profits in the fiscal year ended March 31.

The London-based company said gains in its ceramics and electronics operations offset a “very disappointing” drop in its catalytic-systems unit.

The company reported pre-tax profits of $157 million on sales of $4.1 billion. That compares with profits of $148 million on sales of $3.5 billion during the fiscal year ended March 31, 1995.

Johnson Matthey is a worldwide materials and technology company. Its most dynamic division in recent years has been Johnson Matthey Electronic, which is headquartered in Spokane. Operating profits in the division rose 36 percent during the year.

The company’s ceramics unit enjoyed a 54 percent increase in operating profits. But its catalytic systems unit, which supplies platinum used in catalytic converters, reported a drop in profits of 24 percent for the year.

The electronics division is a leading supplier of high-technology materials to the semiconductor and microelectronics industries with 22 locations worldwide.

, DataTimes