UPDATE 1-UK's Johnson Matthey bets on US power demand with $360 million Cormetech buy

Adds detail on outlook from paragraph 2

May 28 (Reuters) - British chemicals company Johnson Matthey JMAT.L said on Thursday it would buy Cormetech for $360 million, betting on growth in the U.S. power generation market amid strong demand for emission control at data centres.

The company said it expects group underlying operating profit to rise in the low- to mid-single-digit percentage for the year ending March 31, 2027, excluding the planned divestment of Catalyst Technologies and purchase of Cormetech.

For 2026-27, analysts expect underlying operating profit of £364.8 million, according to a company-compiled consensus.

Johnson Matthey reported £340 million in FY25/26 profit, up 14% from a year earlier.


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