Report to Investor of Johnson Matthey

TABLE OF CONTENTS INTRODUCTION...............2 1. ECONOMY OVERVIEW............2 2. THE CHEMICALS INDUSTRY.............2 2.1 Industry Briefing...............3 2.2 Opportunities for Growth................3 3. JOHNSON MATTHEY PLC PROFILE........4 3.1 Company Overview.............5 3.2 Company Policy.................6 4. SCAPA GROUP PLC PROFILE...........6 5. THE COMPANIES PERFORMANCE...........7 5.1 Financial analysis................7 5.2 Activity analysis.................8 5.3 Solvency and liquidity analysis...............9 5.4 Profitability analysis...............9 6. GRAPHICAL ANALYSIS...........10 6.1 JMAT Overall Comparison.........10 6.2 Prospective EPS Graph............11 6.2 Prospective Dividend.............11 CONCLUSION AND RECOMMENDATION..........12 TABLE OF REFERENCES............13 APPENDICES...........14 I.Key Ratios.............15 II. Annual reports of Johnson Matthey PLC and Scapa Group PLC...........26 INTRODUCTION The intention of this …

…Profit Margin (%)<Tab/>-2.61<Tab/><Tab/>-4.37<Tab/> Return on Capital Employed<Tab/>-3.92<Tab/><Tab/>-7.53<Tab/> Return on Equity<Tab/> -12.38<Tab/><Tab/> -18.52<Tab/>