LONDON, June 5 (Reuters) - Johnson Matthey, theworld's largest autocatalyst manufacturer, posted a rise inannual profit slightly ahead of expectations, helped by tighterrules on emissions which boosted its sales of catalysts forheavy duty vehicles in Europe.
The speciality chemicals company - which makes catalysts tocontrol car emissions and also refines and recycles platinumgroup metals - posted an underlying pretax profit of 427.3million pounds ($715.9 million) for the year ended March, up 12percent on the year before.
That compared with analysts' average estimate of 417 millionpounds, according to Thomson Reuters I/B/E/S.
The company said it expected its 2014/15 performance to bein line with its 2013/2014 financial year as growth across thegroup would be offset by the adverse impact of the loss of acommission revenue from Anglo American Platinum(Amplats), and by the effect of foreign exchange moves.
Johnson Matthey is being negatively impacted by the end of along-standing buying deal which had included a discount andmarketing arrangements with Amplats, the world's largestplatinum producer.
In May, it signed a five-year refining and sales contractwith U.S. platinum and palladium producer Stillwater Mining.
($1 = 0.5969 British Pounds) (Reporting by Silvia Antonioli; Editing by Mark Potter)
Johnson Matthey (JMAT)
