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China lockdowns, Ukraine war hit Johnson Matthey's profits

Johnson Matthey’s underlying operating profit fell 30% year on year in the six months ended September as it dealt with supply chain constraints due mainly to Covid-19 lockdowns in China, the ongoing semi-conductor chip shortage, and disruptions from the war in Ukraine, the company said.

China lockdowns, Ukraine war hit Johnson Matthey's profits China lockdowns, Ukraine war hit Johnson Matthey's profits China lockdowns, Ukraine war hit Johnson Matthey's profits China lockdowns, Ukraine war hit Johnson Matthey's profits China lockdowns, Ukraine war hit Johnson Matthey's profits

“The external environment is challenging, with continued political and economic uncertainty,” the London-listed company said.

The fall resulted in a profit of £222 million (US$268.31) for the six months, while revenue fell 14% year on year to £7.328 billion, and basic earnings per share dropped by 25% to 88.2p.