Johnson Matthey to buy back shares after profit doubles
Nov 24 (Reuters) - Chemicals maker Johnson Matthey on Wednesday announced a share buyback of 200 million pounds ($267.72 million) after half-yearly underlying operating profit more than doubled to be ahead of pre-pandemic levels on higher precious metals prices and strong demand.
The company, which announced earlier this month that it would exit its battery materials business and appoint a new boss, said it was selling its Advanced Glass Technologies business, a supplier to carmakers, for 178 million pounds.
($1 = 0.7470 pounds) (Reporting by Yadarisa Shabong in Bengaluru; Editing by Shailesh Kuber)
