Johnson Matthey revenue surges 31 per cent

- Strong first-half on catalysts demand- Final quarter to be hit by expiry of Anglo American Platinum contract - Dividend lifted 10 per centSpeciality chemicals company Johnson Matthey reported a robust set of half-year results, powered by a strong performance in Emission Control Technologies ahead of new European legislation and good demand for Process Technologies' products.The group, which manufactures catalysts to control car emissions, said underlying pre-tax profit rose 13% to £212.9m for the six months ended September 30th on revenue that surged 31% to £6.4bn. However, Johnson Matthey cautioned that while it has been boosted by European legislation for heavy duty diesel vehicle catalysts, which comes into force in January 2014, the expiry of long-standing arrangements with Anglo American Platinum will hurt fourth quarter profit. Chief Executive Neil Carson explained: "We therefore expect that if the impact of the loss of the Anglo Platinum contracts is excluded, Johnson Matthey's performance in the second half will be in line with that of the first six months." After a weak first half last year, its Precious Metal Products division recovered and overall volumes in its Services businesses increased. Underlying earnings per share rose 18% at 84.9p. The group increased its interim dividend by 10% to 17.0p per share. CJ