Johnson Matthey Third Quarter Profit Slides

Reuters reported that platinum refiner Johnson Matthey PLC’s profits went down in the third quarter as sales of vehicle exhaust system catalysts went down in Europe and Japan.

As quoted in the market news:

Sales, excluding precious metal sales, were down 2 percent at 635 million pounds ($1 billion) in the third quarter, while underlying pretax profit was down 19 percent at 84.3 million pounds, mainly because of the change in mix in its catalysts business and lower sales in its precious metals unit.

Click here to read the full Reuters report.