Johnson Matthey – Battery Exit Sees Shares Hit The Skids
Johnson Matthey PLC (LON:JMAT) will exit its battery materials business, concluding that the returns are not sufficient to justify the necessary investment. Q3 2021 hedge fund letters, conferences and more The group plans to put that part of the business up for sale and instead focus on other potential growth avenues like hydrogen technology. Management also said that supply chain issues and rising precious metals prices mean the group’s half-year results are likely to come in at the lower end of market expectations. That suggests revenue around £4bn and operating profits near £475m. CEO Rober...