ONE of Teesside’s major process sector players has made a strong start to the year and expects half-year profits to be “well ahead” of the same period last year.
Johnson Matthey, which operates its catalysts division at Billingham, said revenues grew by a third across the group in the first quarter to June 30.
Chairman Sir John Banham, said the fine chemicals and catalysts division had also made a good start to the year.
He said: “The second quarter has begun well and the group has a strong order book. We are benefiting from increasing global demand for products which reduce pollution and protect the environment.
“Despite increasingly difficult macroeconomic conditions we expect profit before tax for the half year to September 30, 2008 to be well ahead of the same period last year.”
Meanwhile, Stockton firm Brulines has also reported growth. The pub equipment company said the year had started well with trading performance in line with the expectations.
Chairman James Newman said: “The board is confident that its product range and recent acquisitions will take the group into new markets and support further growth.”