Feb 3 (Reuters) - Johnson Matthey reported a slightdrop in third-quarter sales on Wednesday and said tough marketconditions will limit its short-term growth opportunities.
Johnson Matthey, the world's biggest maker of catalysts forcar emission-control devices, said group sales for the quarterto end December totalled 736 million pounds ($1 billion), downfrom 745 million a year earlier.
"Looking ahead, the challenging macroeconomic conditions,which have worsened slightly since our half-year results inNovember, are expected to limit the group's short-term growthopportunities," the company said in a statement.
Johnson Matthey, which makes most of its profits from thesale of platinum-rich catalysts, has benefited in recent yearsfrom tighter European regulation on emissions, boosting demandfor more value-added catalysts.
($1 = 0.6927 pounds) (Reporting by Olivia Kumwenda-Mtambo; editing by Jason Neely)