Johnson Matthey’s profits have been eaten into by soaring inflation and ongoing supply chain disruptions.
The British chemicals maker had its operating profit dive a quarter to £222m on an underlying basis in the six months to the end of September, according to the group’s latest results.
Supply chain constraints have hit the group’s clean air division, which it expects to improve in the coming months.
In a statement today, chief executive Liam Condon said the company was focused on navigating “significant cost inflation”.
“We are confident of delivering a stronger performance in the second half as we apply the enhanced commercial focus and efficiencies that I outlined back in May,” he added.