(Reuters) -Johnson Matthey on Wednesday reported a slightly lower half-yearly profit, as supply chain pressures constrained production volumes for the group’s automotive customers and as prices of precious metals softened.
The British chemicals maker, which raised prices of its products this year to counter rising costs, has been battling supply disruptions due to lockdowns in China and because of challenges in sourcing components from Ukraine.
The company also said it faces political and economic uncertainty but projected underlying operating profit for the full year to be within the market’s range of expectations.
The group’s underlying operating profit for the six months ended Sept.
30 was 222 million pounds ($263.89 million), compared with 297 million pounds the prior year.
($1 = 0.8413 pounds)
(Reporting by Muhammed Husain in Bengaluru; editing by Uttaresh.V)
