Johnson Matthey swings to loss;to sell glass technologies business

摘要

Johnson Matthey reports a net loss of ￡28.0 million($37.4 million)for the fiscal first half ended 30 September, swinging from net profit of ￡24.0 million in the prior-year period. The loss is attributed to a ￡314.0-million impairment of the company’s assets following its announcement earlier this month that it intends to exit the battery materials sector. Revenue increased 23 year on year(YOY)to ￡8.59 billion, owing primarily to higher average precious metal prices. Operating profit dropped 71 YOY to ￡20.0 million. Johnson Matthey has also announced an agreement to sell its advanced glass technologies business to Fenzi Holdings S.p.A(Milan, Italy), a company specializing in chemicals for glass processing, for ￡178.0 million.